Apple CEO Tim Cook Denies Interest in Creating an Apple Cryptocurrency

Apple CEO Tim Cook has publicly declared that the giant tech company is not planning to launch its own corporate cryptocurrency according to an interview on CNBC on October 3. Mr. Cooks highlighted that Apple does not believe in the idea of private corporations setting up private currencies that compete with each other.

Tim Cook, Chief Executive Officer of the iconic tech giant Apple, has discussed the company’s position on the spreading trend of large corporations developing their own private cryptocurrencies. Mr. Cook, who took the lead of Apple in 2011 after Steve Jobs’s resignation, has shared publicly his skepticism towards new corporate cryptocurrencies projects.

Privately issued cryptocurrencies have been in the news for a good part of 2019 following Facebook’s Libra announcement. The public disclosure of such an ambitious project has led many industry analysts to speculate about potential similar initiatives by other huge tech corporations such as Google and Apple.

However, this is not the case for Apple Inc., in fact, Mr. Cook has denied the involvement of Apple in any crypto-related effort to build a private coin. Apple’s CEO has acknowledged the importance of leaving currency management in the hands of the sovereign countries, and then added that he does not see any added value in having multiple private currencies competing with each other.

Despite Tim Cook denying his interest in a corporate cryptocurrency, Apple has become a major player in the payments sector in 2019. Read More...