Apple co-founder Steve Wozniak stated in an interview that while crypto and its applications hold promise, its elusive nature could hurt global adoption. Wozniak, who recently co-founded his own blockchain company with Efforce, believes that cryptocurrencies have “very promising prospects” thanks to the advantages of blockchain technology, but believes that every transaction should be transparent and traceable and that the “undetectable “The nature of crypto calls for a workaround.
“I’m in the camp that crypto is being used effectively. We now have so many digital ways to pay for things, even just to send money to people, ”Wozniak said during an interview with Yahoo Finance. “And [with] Crypto, it’s hard to trace who’s doing what. However, it is possible, ”he added.
Wozniak also mentions in the same interview that Bitcoin, the world’s largest cryptocurrency by market capitalization, is “only mathematically pure” and impossible to copy. Compared to the US dollar, he said governments get power from the transactions they go through for observation and taxation.
The programmer behind the first Apple computer said there was some anonymity with Bitcoin and other crypto coins, but they weren’t controlled by a single entity like the U.S. dollar. “Bitcoin doesn’t even have a creator that we know is not run by a company, it’s just mathematically pure, and I believe that nature always comes before humans,” he added.
He reiterated how this very anonymous nature could affect his prospects, adding, “You should be able to stand up and say I made this transaction.”
Efforce, Wozniak’s blockchain-based energy efficiency project, was launched back in December 2020 and enables contributors to fund efficiency improvement projects by investing in a WOZX token and being paid back in tokens that represent the energy savings achieved.
Interested in cryptocurrency? We discuss everything about crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music, and anywhere you get your podcasts.