August 22, 2018 07:46:06
After attending a number of industry conferences and making several public comments, Apple co-founder Steve Wozniak is finally jumping on the cryptocurrency bandwagon, joining investment-focused crypto startup Equi Capital.
Wozniak announced the news in an interview with NullTX on the sidelines of the ChainXchange blockchain conference held in Las Vegas last week.
“I’m involved with, very soon, my first time being involved in a blockchain company. [It’s] called Equi. Our approach is not like a new currency, or something phony where an event will make it go up in value. It’s a share of stock, in a company,” Wozniak stated.
The tech guru did not reveal what position he will hold at the startup. He indicated, however, that Equi may register in Malta in November, around the time of the island’s blockchain summit.
Equi Capital was founded in 2017 by controversial Scottish entrepreneur, Baroness Michelle Mone, also known as Lady Mone of Mayfair OBE, and her boyfriend, venture capital veteran Doug Barrowman.
The venture is based on the Ethereum blockchain using EQUItokens, which can be used for purchases of stakes in emerging, entrepreneurial companies. As revealed by Wozniak, Equi is dealing with major investors with a successful track record of infrastructural investments in Dubai.
Equi was originally set for launch as an initial coin offering (ICO) conducted in March this year. However, the project failed to attract enough interest and missed targets. The ICO was cancelled and pre-sale investors refunded. A follow-up bounty scheme to reward users with tokens for publicizing the project also saw major issues when a partner marketing company soon walked away. In addition, the scheme was under scrutiny after the US Securities and Exchange Commission (SEC) indicated that giving away tokens may break securities rules.
Wozniak has demonstrated strong interest in the blockchain and cryptocurrency sector, having made several comments in recent months. In June, he called blockchain tech a “bubble”, even though it is “decentralized and totally trustworthy”. Wozniak has also prized Bitcoin (BTC), describing it as “the only digital gold”. He reaffirmed this stance in the recent NullTX interview, while also commenting on platforms like Ethereum (ETH):
“Ethereum provides the tools for a blockchain application of your own… I see more people using Ethereum that way, but Bitcoin is still digital gold.”
Wozniak elaborated that he sees use of Ethereum similar to that seen on Apple, with thousands of companies developing their own applications on the platform.