Apple has no plans to launch cryptocurrency, says CEO Tim Cook

advertisement

Tim Cook, the chief executive officer of tech giant Apple, has said that the company is not intending to launch its own cryptocurrency.

“I really think that a currency should stay in the hands of countries. I’m not comfortable with the idea of a private group setting up a competing currency,” Cook said in an interview with French financial newspaper Les Echos, published Friday.

Last month, Apple Pay vice president Jennifer Bailey said that the company is “watching cryptocurrency,” thinking it is “interesting” and that it has “long-term potential." But Cook seems to have put that notion to rest.

He said: "Currency, like defense, needs to stay in the hands of countries, that’s the heart of their mission,” adding: “We elect our representatives to assume their governmental responsibilities. Companies aren’t elected and should not be going in this direction.”

Apple, however, has been exploring blockchain technology. Earlier this year, the giant outlined its goal of responsible sourcing of minerals via blockchain by setting up some guidelines.

Related Reading

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

TRON USDC now available

Delivering on a vision for an interoperable global standard for dollar digital currency, Circle and TRON have partnered to make USD Coin (USDC) available on the TRON blockchain, which has grown to more than 56 million accounts and nearly 2.5 billion transactions since its founding just four years ago. TRON is home to a broad ecosystem for digital assets in Asia and around the world, and the TRON community can now benefit from easy access to the world's fastest-growing, regulated dollar digital currency. 
Read Full Story
Sponsored Post

Layer-1 Platforms: A Framework for Comparison

The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana. We assess their technical design, related ecosystem data, and qualitative factors such as key ecosystem members to get an understanding of how they differ. Having done this analysis, we draw some insights for what the future of the broader smart contract landscape could look like for years to come. 
Read Full Story
Aug 11, 2021, 5:18PM UTC
More