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Tim Cook Said Apple Not Interested in Digital Currencies
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Tim Cook Said Apple Not Interested in Digital Currencies

Apple has no interest in following Facebook in creating its digital currency, the company’s CEO Tim Cook has mentioned.

Speaking in the interview with French media magazine on Oct. 4, Tim Cook poured cold water on the concept that Apple might release its currency tokens.

“No,” he mentioned when asked in regards to the possibility, he honestly thinks currency should stay in the hands of the state. he is not comfortable with the idea that a private entity can create a modern currency.

His feedback strikes a notably different tone to both Facebook, which is developing its Libra digital currency, and competitors.

Within the payments space, Apple is striving for market share with players similar to Visa, MasterCard, and PayPal through Apple Pay.

All 3of those companies have signed up to participate in Libra, regardless of revelations this week that all could also be considering a U-turn.

Along with jarring with Apple Pay executives on cryptocurrency interest, Cook will seemingly rile cryptocurrency proponents by believing that governments should control money.

Those who assist decentralized cryptocurrencies similar to Bitcoin (BTC) criticize the best way states and central banks corrupt money supply and the backing of fiat currencies.