Tim Cook, the company's president Apple Lossless Audio CODEC (ALAC),, declared last night that he would like to live long enough to see the complete elimination of money from circulation. He made this statement during the annual meeting of the shareholders of the Apple company, where he said that the rate of adoption of mobile payments, and of Apple Pay, is not quite as accelerated as the American company would like.
Apple launched Apple Pay in 2014, together with the iPhone 6, but until now the mobile payment system has been difficult to expand not only in the US, but also in various other areas around the globe. The Apple company also has competition from other service providers for mobile payments, but the big problem is the lack of service beyond a few important countries for Apple.
Tim Cook would have liked the situation to be different and for Apple Pay to reach more important areas of the globe faster, but this will probably happen over time. Apple promotes Apple Pay in every possible way and constantly works with a variety of partners who try to offer customers this extremely useful service for the iPhone.
"Mobile payments have taken off slower than I personally would have thought if I were sitting here a few years ago. I'm hoping to be alive to see the elimination of money."
Despite the failed efforts of the Apple company, the statements of the president of the company are interesting, and this interest in the disappearance of money was never stated by him. If you were to ask me, I would say that it is impossible for Tim Cook to see the disappearance of money in his lifetime, but it is not excluded that at some point, in the distant future, the money will disappear.
