Apple Is Not Making Crypto: Tim Cook Believes Currencies Should Be Created By States

It seems like Apple will not be creating cryptocurrencies or any kind of digital currency anytime soon. During an interview with a French magazine, Tim COOK, the CEO of Apple talked about private companies creating currencies that people can buy and use.

Although it would immediately boost Apple’s income and overall market share in the world, Cook only supports currencies being supervised by the governments.

According to his comments, we elect officials in order for them to undertake such a task and supply the citizens with a strong currency they can use in pretty much any application. We, therefore, elect only the most capable of candidates. Having a private company that is not elected by the general public create currencies does not bode well for the CEO of Apple.

Such talks were even more relevant after Libra started to gain worldwide traction and criticism. But due to the regulatory scrutiny from nearly every sovereign nation, most of the Libra association members are considering tapping out of the agreement completely.

One of them is one of the world’s largest payment processing companies, PayPal, which has only recently become a direct rival to Apple due to Apple Pay.

Image courtesy of Stmarket.co