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Apple CEO Tim Cook Takes a Dig at Companies Setting up their Own Digital Currencies

During his speech, Cook said that while the Internet has brought many positive developments, “fake news is one of the negatives,” reports 9to5mac.com

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Apple CEO Time Cook. Wikimedia Commons

Apple CEO Time Cook has said that Apple does not intend to create its own cryptocurrency, saying he is firmly against the idea of companies setting up digital currencies.

Taking a dig at Facebook’s attempt to launch a digital currency called Libra next year, Cook told French financial newspaper Les Echos that money must remain in the hands of states.

“I am not comfortable with the idea that a private group creates a competing currency. A private company does not have to seek to gain power in this way,” Cook was quoted as saying.

Facebook that tied up with 27 organisations to start the non-profit Libra Association to launch its cryptocurrency next year appears to have hit a roadblock.

According to a report in The Wall Street Journal, Visa, Mastercard and some other financial partners who signed on to support Libra are reconsidering their involvement in the network.

“The financial partners are reluctant to attract regulatory scrutiny following backlash from governments and banks and have declined Facebook’s requests to publicly support the project,” the report said on Tuesday.

facebook, servicefriend, startup, cryptocurrency, libra
Representations of virtual currency are displayed in front of the Libra logo in this illustration picture. VOA

The US lawmakers recently attacked Facebook, calling it “delusional” and “dangerous”, directing the social networking giant to clean up its house first before launching a new business model.

According to Cook, money, like defence, must remain in the hands of states.

“It is at the heart of their mission. We elect our representatives to assume government responsibilities. Companies are not elected, they do not have to go for this,” he added.

Also Read: Users’ Data Privacy hits Facebook Research on Fake News

The Apple CEO Tim who is currently in Europe made an appearance at an event at the non-profit organization Osservatorio Permanente in Italy on Thursday.

During his speech, Cook said that while the Internet has brought many positive developments, “fake news is one of the negatives,” reports 9to5mac.com.

“The Internet has brought so many positive things, but the fake news is one of the negatives. All of us lovers of democracy and freedom must think that separating the false from the true is the basis of freedom. Quality journalism is the foundation of every democracy and an open and free press is essential,” Cook emphasized. (IANS)

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Apple Refutes Report of Sharing Safari Data with Tencent or Google

Apple CEO Tim Cook has said he believes privacy is "ingrained in the Constitution," but that he's worried about how third-party companies have worked to collect information on us

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Apple, Campus, China
A customer is entering the Apple store in Fairfax, Virginia. VOA

After media reports surfaced that Apple is sending iOS users’ data via its Safari browser to Google and the Chinese tech company Tencent, the Cupertino-based iPhone maker refuted such reports, saying it safeguards people’s information in its own systems and never shares it with third-party players.

A report in reclaimthenet.org stated that “Apple, which often positions itself as a champion of privacy and human rights, may be sending some IP addresses from users of its Safari browser on iOS to Chinese conglomerate Tencent — a company with close ties to the Chinese Communist Party”.

The report focused on Apple’s “fraudulent website warning” system which is built into Apple’s Safari web browser to warn people when they visit sites that are harmful and can trick users into sharing login passwords for banks, email and social media.

“Before visiting a website, Safari may send information calculated from the website address to Google Safe Browsing and Tencent Safe Browsing to check if the website is fraudulent. These browsing providers may also log your IP address,’ read the information on Apple’s “Safari & Privacy” section.

It’s unclear when Apple started allowing Tencent and Google to log some user IP addresses, but one Twitter user reported the change in Safari happened as early as the iOS 12.2 beta in February 2019, said the report.

Google on an Android device. Pixabay

In a statement, the company said it actually doesn’t send information to Google or Tencent.

“Instead, it receives a list of bad websites from both companies and then uses it to protect people as they surf the web. Apple sometimes obscures the information about the website people visit if it requests more information to check if a questionable website is malicious,” CNET reported on Monday, citing Apple’s statement.

Also Read: Kerala Unable to get Medics from Reserved Category

For people concerned about their privacy, the service can be turned off in Safari preferences on the iPhone or Mac.

Apple CEO Tim Cook has said he believes privacy is “ingrained in the Constitution,” but that he’s worried about how third-party companies have worked to collect information on us. (IANS)