Ethereum has received backing from one of the key faces of the technology world.
Highlighting the capabilities that the platform-model Ethereum offers, Steve Wozniak, Apple Inc. (AAPL) co-founder and one of the widely followed technology stalwarts, said, “Ethereum interests me because it can do things and because it's a platform.”
Steve was speaking at the WeAreDevelopers conference that concluded on May 20 in Vienna, Austria. The technology guru further added that the Ethereum platform was just like his former company Apple, and in the long term, it has the potential to “become as influential as his company became,” according to Forbes.
During the opening speech on Thursday, he described the path-breaking blockchain technology as “the next major IT revolution that is about to happen,” and predicted that both blockchain and cryptocurrencies will achieve their full potential in around a decade’s time.
Earlier in February this year, he revealed that he had lost seven bitcoins due to a credit card scam. (For more, see Steve Wozniak: Bitcoin Scammer Stole My Cryptocurrency.)
Woz’s Trials With Cryptocurrency
Steve has been an admirer of bitcoin, the world’s most popular cryptocurrency. “Bitcoins to me was a currency that was not manipulated by the governments," he mentioned in one of his earlier statements. "It is mathematical, it is pure, it can’t be altered."
He purchased a few bitcoins for a price of around $700 each to experiment. “I had them so that I could someday travel and not use credit cards, wallets or cash. I could do it all on bitcoin," he said in an earlier statement. "I studied which hotels and facilities accepted bitcoin...it’s still very difficult to do so. I also tried to buy things online and trade bitcoin online."
However, he sold off all but a few cryptocoins earlier this year since he got tired of the changes in bitcoin's value. The erratic volatility that saw bitcoin prices jump to the high levels of $19,800 in December last year and then back to $6,600 over next few months makes it difficult to be used as a stable currency. Woz continues to maintain one bitcoin and two Ether tokens.
Woz continues to remain active in the technology world. He has recently established the Woz University called Woz U in Arizona, U.S. Around 31 learning and coding centers are operational which are accessible to everyone, and there is a provision for the necessary grants for the eligible students.
He also talked about renouncing Facebook. He attributed the decision to "cultural intentions," and not the recent challenges of data breaches linked to the Cambridge Analytica fiasco. (See also, Apple Co-Founder Wozniak: 'I Do Not Invest'.)