Apple co-founder compares blockchain with dotcom bubble
The CNBC media network reported on June 26 that Steve Wozniak, co-founder of Apple Inc., believes that Blockchain is a bubble similar to the dotcom era, but that it could have potential in the future.
During a technology conference called NEX in New York, Wozniak noted that the dotcom period generated a similar kind of exaggeration around companies that did not make good on their promises:
"It was a bubble, and I feel that blockchain is the same."
However, Mr. Wozniak added that blockchain is "decentralized and is totally reliable", and he also pointed out that "it will take a little time" for its potential to reach a good level:
"It does not change in a day, many of the blockchain ideas that are really good at leaving early may be exhausted by not being prepared to be stable in the long term."
Similarly, last month, Wozniak had issued similar views regarding cryptocurrencies.
CNBC notes that Wozniak selected Ethereum (ETH) as a cryptocurrency to remain long term, due to its versatility that allows developers to build on their own.
In the middle of last month, at a conference in Vienna, the co-founder also compared the platform of Ethereum with that of Apple, stating that it could become as influential as Apple's in the future.
According to CNBC, Wozniak mentioned yesterday the possibility of using blockchain for a competitor of social networks for Facebook, which he said, currently operated as a monopoly in the sector.
Wozniak, who had referred to Bitcoin (BTC) as "pure digital gold" earlier this month, pointed out that the first crypto-active is still "simply incredible" for CNBC.
Unlike others, Wozniak is one of the few who is more skeptical with the blockchain technology itself than with Bitcoin. Talking about whether it is right or wrong does not correspond to us, but it is a fact that this character valued the chain of blocks as a technology that still has to mature despite the fact that weeks ago he had praised the first cryptoactive.
As Wozniak, many others compare blockchain with the dotcom bubble because for a while, Internet companies were experiencing increases in their shares to belong to this new economy that was fashionable at that time.
Experts believe that with blockchain the same thing happens, nowadays there are hundreds of new companies that use this technology and have seen increases in their actions just to use the chain of blocks, but there is the possibility that a certain number of these new companies will break or let operate.
Source: CoinTelegraph