Steve Wozniak: Blockchain hype could turn into a bubble!

Steve Wozniak, the co-founder of the technology group Apple, sees the potential for a bubble in the hype surrounding Blockchain. As a comparison, he also draws on the dot-com era, which created a hype about the technology of the Internet. By contrast, Wozniak is still convinced of the Bitcoin and praises it again.

First, Bitcoin sees itself repeatedly accused of allegations that the end of the hype will eventually burst the speculative bubble. The standard argument used to be that Blockchain as disruptive technology is a big step forward, but cryptocurrency use will inevitably lead to the formation of speculative bubbles. We have dedicated ourselves to this topic in our three-part series.

All the more remarkable now is that Apple co-founder Steve Wozniak blows in the exact opposite horn. In the past, Wozniak had already made several positive comments about the Bitcoin, of which he is convinced. Among other things, he described Bitcoin as “digital gold” and wished that Bitcoin would become the leading currency worldwide.

Rather, he sees the risk of a bubble in the hype surrounding Blockchain. So he draws the comparison to the dot-com bubble of the late 90s, when everything revolved around the new and fast-growing Internet companies. At that time, many companies had promised to develop revolutionary services. In the end, most of them went bankrupt.

However, this does not mean that he does not believe in the disruptive potential of Blockchain. On the contrary, the history of the dot-com bubble and the subsequent development of the Internet are actually showing exactly what Blockchain technology can achieve.

“Now, looking at what has happened to the Internet, it’s clear it only took a while. Things do not change in one day, and many of Blockchain ideas that are really good can burn if they come out early and are unwilling to be stable in the long run, “

said Wozniak at the NEX Technology Conference in New York.

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