According to reports on Arabian business, Crypto Enthusiast and Co-founder of Apple, Steve Wozniak, at the Mastercard’s “Connecting Tomorrow” event in Barcelona, stated that the slow growth of the crypto industry could be likened to the early days of the internet.
He further explained that many crypto investors have already projected how the growth of cryptocurrency would be, and they keep expecting too much from the young industry. Wozniak doesn’t share the same optimism with them as he feels that industry would not achieve all that is expected from it within a short period just like the early days of the internet.
“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.” he explained at the event.
Need for Centralized Control of Cryptocurrency
The co-founder talked about the decentralized nature, and the anonymous feature cryptocurrencies possess. He believes that cryptocurrencies lack centralized control as to the standards surrounding how it will be transacted among users globally. According to him, “governments are going to regulate that, no matter what.”
While talking about the anonymity feature, he claimed that virtual currencies are “a little too anonymous,” because of the way most coins are designed.
“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,” he said.
Wozniak also talked about other things in the event, among which include Artificial Intelligence (AI) and its impact on autonomous cars. He explained that he doesn’t believe that the AI system controlling self-driving cars would be able to cope with the realities of driving on roads alongside human drivers.
What are your thoughts on Steve Wozniak comparing the slow growth of the crypto space to the early days of the internet?