Apple CEO Tim Cook Warns of ‘Data Industrial Complex' which Favors Bitcoin and Blockchain Ascension

During the keynote speech that Tim Cook, Apple’s CEO, gave at the 40th International Conference of Data Protection and Privacy Commissioners (ICDPPC), he warned about the data industrial complex.

At the event, he debated the ethics of big data, capitalism and technological innovations. At the same time, the conference is related to how digital information is tracked and sold. Tim Cook said that technology promises to learn from people individually to benefit all the community. However, he explained that advancing AI and collect huge personal profiles is laziness rather than efficiency.

He has also endorsed a federal privacy law and expressed his support to the General Data Protection Regulation (GDPR) in Europe. Moreover, he commented that human values should be protected.

On the matter, he commented:

“For artificial intelligence to be truly smart it must respect human values – including privacy. If we get this wrong, the dangers are profound. We can achieve both great artificial intelligence and great privacy standards. It is not only a possibility – it is a responsibility.”

What Tim Cook said is very important for the whole blockchain market. Developers are working in order to build transparent, decentralized and secure systems for users to control their data and digital identities.

With blockchain technology is possible to shift to distributed digital ledgers that store data accros a web of computers and that is governed through consensus. These systems use virtual currencies as a means of transferring value.

The cryptocurrency community has also shown support to Tim Cook’s comments. Vitalik Buterin, Ethereum’s co-founder said that he is very happy that Apple takes privacy seriously.

These companies such as Google, Apple and Facebook have to take seriously how they collect data from users and how they use it. It is very important to achieve more balance, fairness and transparency in this industry. In the future, new blockchain platforms would be able to help users control their privacy and how they share their data.

Although it will not be easy for these companies to change their strategies, they will have to plan a new way to process users’ data. Tim Cook and Apple seem very compromised in order to achieve these ethical standards, and blockchain technology could help achieve this outcome.

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