Blockchain Technology

Bitcoin is still amazing, but Blockchain is a bubble, as per Wozniak

According to a report published by CNBC a couple of days back on June 26th, it shows the latest comments made by the co-founder of Apple Steve Wozniak regarding the blockchain technology.

As per the report, Wozniak believes that blockchain is a bubble and is on a similar path as the dotcom era, however, he also believes that it could have potential in the future.

In his speech at the NEX technology conference conducted in the city of New York, Wozniak further explained his statement by saying that the dotcom era had created a similar kind of hype around companies but in the end, they were unable to keep their promise:

“Back then it was a bubble, and I have similar feelings regarding the blockchain.”

Wozniak did, however, describe the blockchain as “decentralized and completely trustworthy,” he also mentioned that it would “take some time” for the blockchain to reach its complete potential:

“It doesn’t change within just 24 hours, there have been quite a lot of blockchain ideas that have been really incredible, however, by launching it its early stages these ideas burn themselves as they are not being equipped to survive and be stable in the long run.”

Significantly just a month ago, Wozniak had expressed similar sentiments regarding the future potential for both cryptocurrencies as well as the blockchain technology.

Ethereum (ETH) was highlighted as the only cryptocurrency that could survive in the long term by Wozniak, given its versatility in permitting developers to build on its blockchain, as per noted by CNBC.

Backing this opinion on Ethereum (ETH) in a conference in Vienna back in mid-May, Wozniak had also compared Ethereum’s platform to Apple’s platform, going as far as to make the bold claim that it could be as influential as Apple in the future.

As per reported by CNBC, Wozniak also hinted at the possibility of implementing the blockchain as a social network competitor to Facebook, which according to Wozniak is currently enjoying a complete monopoly in the social networking area.

Additionally, Bitcoin (BTC) was referred to as “pure digital gold” by Wozniak during the first week of this month (June) and has now gone on to term it as “just amazing” as per reported by CNBC.