Steve Wozniak Backs New Blockchain Startup Equi following study of Bitcoin and Ethereum
Few living persons have an unimpeachable claim to tech greatness like Steve Wozniak. The former Apple engineer breathed life into the Apple 1 and Apple 2 personal computers in a groundbreaking period between 1976 and 1985. Today, the former Steve Jobs partner expresses his enthusiasm about blockchain technology, comparing it to the early days of the Apple Corporation.
Wozniak has been a vocal proponent of cryptocurrencies, and the technologies upon which they are based, for months now. Today, he is putting his money where his mouth is. In a recent interview, Steve Wozniak explained the foundation of his obsession for blockchain, and what to expect from his new venture.
Steve Wozniak on Today’s Blockchain Industry
Steve Wozniak could be forgiven for ignoring the burgeoning blockchain industry. After all, this is a wealthy man with a legacy dwarfing that of many other tech giants. But that wouldn’t be Woz. Since his departure from Apple in the mid 80’s, Wozniak has continued to create and educate. He has always been on the scene when new technologies make their break, and he goes as far now to compare blockchain to the early internet.
In a recent interview, Wozniak highlights blockchain’s independence and compares it to the internet in its early days. During this time, the average person had little comprehension of what the internet was. Early adopters created an incredibly diverse array of communities, services, and websites. Growth was explosive but many of these early web creations failed to stand the test of time. Nonetheless, the early internet inventions that survived tended to do so in grand fashion. Pre-dotcom bubble platforms like eBay and Amazon are among the most recognizable brands in the world.
Wozniak on His New Blockchain Startup
Not content to sit to the side and watch this technology progress, Wozniak is now involved in his own crypto startup, “Equi”. Equi will be an investment platform built with international capital in mind. The prospects of decentralized international investment are tantalizing to anyone trying to grow their net worth. Wozniak provided a few more details in the interview.
“Our approach is not like a new currency or something phoney, where an event will make it go up in value. It’s a share of stock, in a company.”
There are few examples in the crypto space of a digital token acting as a share in a corporation. More frequently, tokens have some role to play in a developing technology system. Or they may simply function as a currency. Wozniak’s idea to use digital coins as placeholders for equity value may offer something special to the investing public. This way, people who claim that cryptocurrencies have no inherent value could be satisfied that Equi tokens are very much like a traditional asset.
Wozniak contends that Equi investors will see their funds put to work in international ventures, such as construction projects in Dubai. For maximum regulatory freedom, Equi may find a home in Malta. Centralized investment markets and regulations frequently limit an investor’s capital to that which can be exchanged within national borders. Even in countries like the United States, where investors have relative investment freedom, there is no easy way to put money into projects like the ones Wozniak describes. A decentralized platform for this purpose would be more than a little exciting.
Wozniak on Bitcoin and Ethereum
Wozniak’s initial enthusiasm for blockchain was borne through his study of Bitcoin and Ethereum. Though Wozniak’s own blockchain startup has ambitions beyond creating a new digital currency, Wozniak remains effusive about the Bitcoin revolution.
Later in the interview, Wozniak discussed the remarkable innovation achieved with Bitcoin’s decentralized consensus model. He further enthused on the mathematical basis of Bitcoin’s financial system, highlighting that Bitcoin has a permanent fixed supply (21 million theoretically possible; no more can be mined). Contrasting this with government-issued fiat currencies, which can be artificially inflated, Wozniak concluded that cryptocurrencies offered a more robust system for money.
Wozniak also addressed Ethereum’s role in the market. While Bitcoin is a revolution in finance, Ethereum provides the tools through which anyone can create a piece of the new internet, despite a mass sell-off in recent days. Again, Wozniak compared blockchain to the early internet, which was a hotbed for innovation and community; he expects blockchain to be the same.
It’s encouraging for crypto enthusiasts to see the interest of tech giants like Steve Wozniak. As the industry progresses, maybe Woz will once again change the way the world uses novel technology. At the very least, you can bet he’ll be deeply and personally involved.
* Information in this article should not be taken as investment advice.