<p>Tim Cook, the chief executive officer of tech giant Apple, has said that the company is not intending to launch its own cryptocurrency.</p> <p>“I really think that a currency should stay in the hands of countries. I’m not comfortable with the idea of a private group setting up a competing currency,” Cook <a href="https://www.lesechos.fr/tech-medias/hightech/pour-tim-cook-le-patron-dapple-certains-gafa-ont-sans-doute-ete-arrogants-1137197">said</a> in an interview with French financial newspaper Les Echos, published Friday.</p> <p>Last month, <a href="https://www.theblockcrypto.com/tag/apple">Apple</a> Pay vice president Jennifer Bailey <a href="https://www.theblockcrypto.com/linked/38627/apple-exec-sees-long-term-potential-for-cryptocurrency">said</a> that the company is “watching cryptocurrency,” thinking it is “interesting” and that it has “long-term potential." But Cook seems to have put that notion to rest.<br /> <br /> He said: "Currency, like defense, needs to stay in the hands of countries, that’s the heart of their mission,” adding: “We elect our representatives to assume their governmental responsibilities. Companies aren’t elected and should not be going in this direction.”<br /> <br /> Apple, however, has been exploring blockchain technology. Earlier this year, the giant <a href="https://www.theblockcrypto.com/linked/12022/apple-aims-to-adopt-some-basic-blockchain-tech">outlined</a> its goal of responsible sourcing of minerals via blockchain by setting up some guidelines.</p>