Apple Co-Founder Steve Wozniak Gives Huge Endorsement To Blockchain

Apple Co-Founder Steve Wozniak Gives Huge Endorsement To Blockchain

Steve Wozniak, Apple co-founder, again gave a statement in favor of cryptocurrency and its underpinning blockchain technology, at an event this week.

Wozniak believes blockchain to have revolutionary potential. At the WeAreDevelopers World Congress in Vienna, he said that blockchain is an impactful technology that could be “the next IT revolution that’s about to happen”.

On the other hand, Wozniak expressed his worries about the present condition of the tech world, citing Facebook’s Cambridge Analytica data scandal that recently came to light, in a separate interview. He said:

“We used to be able to have conversations in secret with people. If I were to say something to you in private now, others wouldn’t hear it — that isn’t the case anymore,”

He further added,

“We lost our security a long time ago. We’ve lost our privacy and it’s been abused. If I think I have a level of privacy that I don’t, that’s deceit. And that bothers me. I hit a limit. I can’t take that. It’s one step in a long series of steps that are all in the same direction.”

Nevertheless, his new statement on the revolutionary potential of cryptocurrency follows some of his previous comments on bitcoin being better than gold and the US dollar in many key aspects.

Last year at the 20/20 event in Las Vegas, Wozniak referred to traditional currencies as ‘kind of phony’ due to the fact that they can be abused for political gains, while gold doesn’t have a fixed supply.

The Apple co-founder said that unlike gold and traditional currencies, there can only be a finite amount of bitcoin or any other cryptocurrency. Although there’s a finite amount of gold, it continues to get mined and mined. There’s no fixed supply of gold, which makes it less reliable. He added that cryptocurrency is way more mathematical and regulated as compared to gold and traditional currencies, and nobody can really change mathematics.

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