Apple Patent Paves Way for Next iPhone to Be an iWallet

Apple Inc. (AAPL) stock for last 5 years

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[CAF Note: Beware a digital currency in a closed system like Apple. Trojan horse possibilities here.  Time to head for Linux?]

By Anthony Wing Kosner, Contributor

As reported in PatentlyApple, “Apple has received a major Granted Patent that generally relates to establishing financial transaction rules for controlling a subsidiary financial account and, more particularly, to various systems, methods, and electronic devices configured to provide for the establishment of such rules.” Sounds pretty broad. What does it mean?

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Related reading:

Apple’s New iWallet Patent Hints At New Killer App
Forbes (9 March 12)