Tim Cook: Apple not to launch its own cryptocurrency

Posted 04 October, 2019

During a discussion about new payment systems this September, Apple Pay Vice President Jennifer Bailey announced that the company was exploring new financial technology. She called cryptocurrencies a promising phenomenon with long-term potential. As a result, many market players started thinking that Apple, like Facebook, would offer its digital currency.

However, Apple CEO Tim Cook stated Apple will not release its own cryptocurrency. 

“No. 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. A private company shouldn’t be looking to gain power this way.” - he said. 

Perhaps the company is wary of launching its own cryptocurrency due to negative criticism of the Facebook project. Facebook’s attempt to drag cryptocurrencies into the mainstream has since met with regulatory and political scepticism globally, with France and Germany pledging to block Libra from operating in Europe.

At the same time, Apple announced the CryptoKit toolkit for "safe and efficient cryptographic operations in the summer. 

Previous story

04 October, 2019 16:26

← LongHash: ICO projects not attract investors

Activity in the field of ICO fell to almost zero. If in 2017 White Paper was beautifully written to collect millions of dollars, now the situation is the opposite.

LongHash: ICO projects not attract investors

Next story

04 October, 2019 12:29

Stone Ridge files for bitcoin futures-related investment fund →

Stone Ridge has reportedly filed an application for the launch of new bitcoin futures-related investment product. The US Securities and Exchange Commission received the document this week.

Stone Ridge files for bitcoin futures-related investment fund
Write a comment
 
Prove you’re not a bot + 11 = 25