Steve Wozniak Reverses Course on Blockchain, Compares It to the Early Internet, Calls Bitcoin ”Digital Gold”

Steve Wozniak Reverses Course on Blockchain, Compares It to the Early Internet, Calls Bitcoin ”Digital Gold”

Steve Wozniak, the renowned Apple co-founder and general techie, has previously made some waves coming down hard on the blockchain, stating that it is ”nothing more than a bubble”. Now, however, it would seem Wozniak has reversed course, as he joins a blockchain startup.

More specifically, this news comes from an interview with Null Transaction earlier this week. After Wozniak left Apple in 1985, he has often provided his views on new or nascent technologies.

Bitcoin has not been exempt from this, and Wozniak has reportedly been intrigued with the currency for many years.

However, unlike the industry observers who hail the blockchain as a technology that could truly herald a paradigm-shift – and Bitcoin as just being blockchain’s first blip on the radar – Wozniak has previously welcomed Bitcoin, but has been suspicious of the blockchain.

In fact, he has stated that he hopes Bitcoin becomes the world’s first truly global currency, and has stated that the currency is ”amazing” – whilst at the same time branding blockchain technology as merely a ”bubble”.

Now, however, Wozniak would seem to have markedly changed his views, stating that he at first ”did not understand it [blockchain]”.

Nonetheless, as Wozniak read more about the inner workings of blockchain technology, learning about verification and the mining process, he told Null Transaction that it suddenly ”all added up”.

Wozniak also compared the current state of cryptocurrency and blockchain ventures to the early days of the internet, stating that there is an abundance of different initiatives being developed that, according to Wozniak, all have value.

Wozniak stated that although all these projects have value, he stressed that only ”a few people can see the value”, supposedly reminding him of the early days of the internet.

The Woz also revealed that he had joined the blockchain company Equi; a firm that is, according to Wozniak, ”doing investment by investors with huge track records in good investments in things like apartment buildings in Dubai”.

Wozniak also stressed that Equi’s would not create a cryptocurrency, stating that ”our approach is not like a new currency, or something phony where an event will make it go up in value. It’s a share of stock, in a company”.

Furthermore, the former computer engineer teased that the Equi company could become based in Malta by the time of their blockchain conference, indicating that the blockchain-friendly stance of Malta could give the nation an edge in blockchain technology, just like countries like Norway nurtured the electric vehicle market with friendly regulations.

In addition to this, Wozniak added that he envisions thousands of companies potentially developing Ethereum-based applications, using Ethereum to provide the tools for ”a blockchain application of your own”, however quickly added that ”but Bitcoin is still digital gold”.

Image Source: “Flickr”

Leave a Reply

Your email address will not be published. Required fields are marked *