Apple’s CEO Says No To Launching Its Own Cryptocurrency: Tim Cook Favors Government To Handle Currencies

October 7, 2019 / by Crypto.IQ

Tim Cook, Chief Executive Officer of Apple, said the company has no plans to launch a cryptocurrency. He firmly opposes the idea of private firms launching their own currencies.

Speculation around Apple launching a cryptocurrency arose when its senior executive hinted in an interview with CNBC that the firm is closely watching the crypto space. The company already has an ecosystem to facilitate payments on its phones. Many felt that Apple might introduce a cryptocurrency like Facebook’s plans to launch Libra.

However, Facebook faced a lot of opposition when it announced plans to launch Libra next June. France and Germany strongly opposed the introduction of Libra and said they would not allow it in Europe.

Many corporate houses like Uber, MasterCard, PayPal, and Visa supported Facebook when it announced a plunge into the crypto space and agreed to partner with Facebook in the venture. Several are now second-guessing that decision under increasing regulatory scrutiny.

Tim Cook said he does not favor private entities launching their own cryptocurrencies, as it’s something best left to governments. Executives in private firms are not elected by the people, therefore, private companies should refrain from entering fields like defense and currencies.

Cook did not, however, comment on the stateless nature of Bitcoin or other decentralized cryptocurrencies.

MacOS Catalina 10.15

In other Apple news, on October 3, 2019, Apple unveiled an update MacOS Catalina 10.15 Golden Master. The new update comprises a lot of features and changes. It provides standalone apps for Apple TV and Apple Music. The new software also supports Podcasts. Apple has planned to withdraw iTunes. Catalina would run smoothly on MacBook Pro (2012 and later versions), MacBook Air (2012 and later versions), 12-inch Macbook, iMac Pro, Mac mini (2012 and later versions).

iPad as second Mac display

Apple introduced Sidecar, a feature that allows an iPad as the second Mac display. Mac will boast a revamped app called “FindMy”, which combines Find My Friends and Find My Phone. The company also added voice control to the OS to offer a powerful experience to users with rich navigation. To help users know how much time they spent on the screen, the company introduced screen time to macOS.

Apple would also introduce the UIkit framework to Project Catalyst. It allows developers to port iPad apps to macOS.