At a NEX technology conference in New York on Tuesday, Wozniak stated: 'That was a bubble, and I also felt that in the blockchain.' He reminded the audience that a large part of the companies that promised to change their lives in the Internet quickly went bankrupt. However, he said that blockchain technology has the potential for practical application because it is 'decentralized and totally trustworthy'. But like the Internet, it takes longer to meet the expectations of early hype.
Wozniak said: 'If you look at the present, you will say that all Internet things have happened. We understand this, it just took a little time. This is not something that can be achieved in one day. The blockchain concept, if it is not prepared for long-term stable operation, may be exhausted. 'Bitcoin is the first application of the blockchain, but the technology is also applied to countless other aspects. The blockchain can be made public, Records are recorded on distributed accounts, and proponents claim that transactions are faster, safer, and often do not require third parties.
Wozniak believes that Ethereum may surpass speculation because of its use cases and the ability to allow programmers to build their own related projects. Ethereum is the name of the foundation for making digital tokens in the form of digital coins, and it is financing the development of Ethereum platform. Ethereum was first introduced at the event. Companies such as Microsoft and JPMorgan Chase were developing the use of the Ethereum blockchain. Bitcoin, which Wozniak called digital gold, fell more than 50% this year, but he still believes that 'Very amazing'.
Wozniak had bought a lot of Bitcoin, but when Bitcoin's price was close to 20,000 U.S. dollars, he sold only one. When he first bought Bitcoin, he said that he hoped that he could travel without cash or credit cards. He said: 'A bit of Bitcoin fell suddenly, and then went up to heaven, I was scared, and sold only one bitcoin.'
Wozniak also proposed the idea of using blockchain for social networking and becoming a Facebook competitor. He said Facebook is currently monopolizing and the time for subversion is ripe.