Steve Wozniak Calls Blockchain Technology a “Bubble,” Relates To The Dotcom Era With Future Potential

Steve Wozniak, who rose to fame as the co-founder of Apple, recently spoke at the NEX technology conference in New York. While speaking about the dotcom era and its hype around the time it originated, he referred to the circumstances as “a bubble, and I feel that way about blockchain.” His statement comes from the way that many companies did not fulfill the promises they made at that time.

Despite his outlook, Wozniak hasn’t written off blockchain, saying that it is possible that they’ll have a spot in the future, according to a report from CNBC. He called the blockchain “decentralized and totally trustworthy.” However, he expects the progression to the technology’s full potential will be at a slow pace.

He said, “It doesn’t change in a day, a lot of the blockchain ideas that are really good by coming out early they can burn themselves out by not being prepared to be stable in the long run.”

Even though Wozniak seemed to talk about cryptocurrency and blockchain technology primarily, he took the time to specifically name Ethereum as the one digital asset that he believed had longevity. It has versatility that other platforms don’t have, in that other developers can build upon the current blockchain. He was so supportive of the ETH platform that he even compared it to his own Apple platform, saying that it may even become as influential.

On June 26th, Wozniak suggested that blockchain could be integrated to develop a social network that can overtake Facebook, due to the way its monopolized the industry. Even with Wozniak’s support of blockchain and Ethereum, he still says that Bitcoin is “just amazing.”

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