Categories: Bitcoin News

Crypto’s Slow Development similar to the Internet’s Early Days & “No matter What” Govt. gonna Regulate -Apple Co-founder

Apple co-founder, Steve Wozniak has always been favorable to cryptocurrencies and is now comparing the slow development of crypto space to that of the early days of the Internet while sharing that they are going to get regulated by the government “no matter what.”

Crypto’s slow development akin to internet’s early days

Apple co-founder and cryptocurrency enthusiast, Steve Wozniak has yet again shared positive sentiments in favour of cryptos as he compares the development in the crypto space with that to the early days of the internet.

A few days back at Mastercard’s “Connecting Tomorrow” event in Barcelona, Steve Wozniak talked about a lot of things like Artificial Intelligence (AI) and its impact on autonomous cars among other things. Cryptocurrencies were one of the topics whose slow development, according to him is same as that of the early development days of the Internet as they were equally slow.

A mainstream media outlet quoted him as saying:

“It is not going to go very fast. In those early days of the Internet, people started talking about apps that would let you book your airplane flight, apps that make reservations, do everything in your life. But it didn’t happen very fast and there was a huge crash. The bubble burst.”

However, he points out, “But all these Internet promises became part of our life, eventually.”

Also, read: Apple Says ‘No’ to Cryptocurrency Mining on iPhone

“No matter what” govt. will regulate crypto

Wozniak further shared that the lack of any centralized control in cryptocurrencies is a “type of freedom” that will face many hindrances on its way:  

“They [freedoms] will always get taken away. I love it. I want it. I want that world to exist. But there will be obstacles.”

However, another facet of cryptocurrencies that is anonymity, he believes is a little too much.

Wozniak added that he believes cryptocurrency is “a little too anonymous,” hence they are going to get regulated by the governments “no matter what”.

“It’s a little too hard to track down who is doing what transactions, and a great part of our life and existence is knowing what transactions are there so governments can tax them. Governments are going to regulate that, no matter what.”

The ever crypto enthusiast Wozniak has revealed in August that he is working with the investment-focused crypto startup Equi Capital.

Before this he shared the bullish views about the top cryptos, calling Bitcoin the digital gold and Ethereum being increasingly used by people as it provides the tools for a blockchain application. Previously he has also compared Ethereum to Apple in early days.

Achal Arya

I am an entrepreneur and a writer with a bachelors degree in Computer Science. I manage the blockchain technology and crypto coverages at Coingape. follow me on Twitter at @arya_achal or reach out to me at achal[at]coingape.com.

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