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Home / Business / Apple's Tim Cook says companies like Facebook should not create a crypto

Apple's Tim Cook says companies like Facebook should not create a crypto



Tim Cook made a not so subtle Facebook post in an interview published Thursday.

Cook said Apple will not introduce a cryptocurrency to compete with other technology giants who do the same. What private companies should try, says Cook – and he believes that the creation of a new currency exceeds this limit. Emagazine.credit-suisse.com/app/art … = 120 & lang = DE A private group is setting up a competing currency, "he said in an interview with Les Echos.

Facebook announced in July that it had been replaced by a Partnership with more than two dozen other companies will create a new cryptocurrency called Libra The launch of the Libra is scheduled for June 2020, but has already been reviewed by regulators and privacy advocates who are still affected by the recent scandals of the social network. Some lawmakers even asked Facebook to stop working on the cryptocurrency altogether.

In contrast, Cook has interpreted the creation of new cryptocurrencies as a step too far for massive technology companies.

"It should not be a private company In the past, Apple seemed open to getting into the crypto-currency space. Jennifer Bailey, Apple Pay's vice president, told CNN in September that Apple "observed cryptocurrency," adding that "we believe it has interesting long-term potential."

A Facebook spokesman declined to comment on Cook's comments. Business Insider has also turned to Apple for further comments.


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