Steve Wozniak, the co-founder of Apple, gave his insight about Bitcoin [BTC] and its underlying technology, blockchain technology, and how it could affect our lives in the coming future, at Crypto Invest Summit.
Wozniak said that Bitcoin drew people’s attention because of the blockchain technology. This is due to blockchain’s key focus being decentralization and immutability. According to him, the technology has become disruptive in the current space.
He further added that the main idea behind blockchain was to have no central authority controlling over it. Moreover, Wozniak added that his fantasies included traveling to a different part of the world with just Bitcoin.
The co-founder of the trillion-dollar industry referred to blockchain as a new technology that is changing the facade of financing and the views of people. Steve continued to say, blockchain is still in the nascent space and the “new things are exciting and what drive us and push us.”
With widespread acknowledgment and adaptation, blockchain finally drew the attention of governments around the world and is now being acknowledged and regulated. Blockchain, he says, is starting to branch out to various industry sectors and people are starting to develop new applications that are changing the way people think and apply it, from the ground up, which the internet did in the 90s.
Wozniak agreed to the fact that decentralized apps or dApps are disrupting incumbent leaders and are moving forward in the blockchain space, which is causing a shift in culture. He said, “I love to see the culture change, but culture resists change,” and then proceeded to compare it to the initial days of the internet when it had no controlling body. So he fears this could happen with the blockchain as well.
Here, Wozniak compares Ethereum [ETH] to Apple’s App Store, which is in a sense a platform. Ethereum has similar functionalities like that of the App Store as people can build use-case applications on its blockchain.
Steve concluded saying it is hard to predict what Bitcoin or blockchain will or will not become in the future as it is still in the nascent phases.
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Bitcoin SV’s roller coaster price market, R3’s new partnership and more
Crypto News – 22 May – BSV’s roller coaster price market, R3’s new partnership and more
— AMBCrypto (@CryptoAmb) May 22, 2019
Crypto News – 22 May
Ethereum Foundation’s latest update: Ethereum Foundation released a blogpost, highlighting its allocation of funds for the present and future development of the Ethereum network
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Israel court makes landmark ruling: An Israeli court classified the world’s largest cryptocurrency as an asset, and not as a currency
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New chapter for Ripple: Ripple’s Pat Thelen was elected onto the U.S Faster Payments Council’s Board of Directors
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Craig Wright gets attacked, again: The latest crypto-proponent to attack Wright was Monero’s Ricardo Spagni, who called Wright ‘so dumb,’ and attacked his legal credentials
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CryptoCompare exchange review: Bitcoin [BTC] to USDT market share fell for the first time in 6 months post-Bitfinex fiasco, the report found
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Ron Paul on crypto-ban: Former Congressman Ron Paul is in the news after he claimed that Bitcoin [BTC] and crypto-ban was highly unlikely as US Dollar will self-destruct
Read more at https://bit.ly/2WrgjLL
Bitfinex launches Tokinex: Bitfinex announced its collaboration with a hybrid Ethereum-based trading platform, Ethfinex, to launch an Initial Exchange Offering [IEO] platform, Tokinex
Read more at https://bit.ly/2HJ27UH
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