Steve Wozniak: Ethereum Like an Early Apple

Avi Rosten
  • Talking at the WeAreDevelopers conference in Vienna, the tech guru explained that Ethereum's potential as a platform reminded him of an early Apple
  • Although he does not hold much crypto himself, Wozniak sees a bright future for the platform

Tech legend and co-founder of Apple Steve Wozniak has recently compared Ethereum to Apple in the 1970s.

During an interevirew at the WeAreDevelopers conference in Vienna, Wozniak was very optimistic about the technology underpinning ethereum and compared it to the world’s most valuable company’s early roots:

“Ethereum interests me because it can do things and because it's a platform. When we started Apple, our Apple 2 computer was a platform. Here’s all the documentation, open source, you can see how you develop parts, look at the examples we have done. How to develop software, how to modify the softwares in here.It was a platform for others, so thousands of companies started up. Sometimes high school kids started their own company, and then they’d put up little ads in little electronic journals, ads for my product, for the Apple 2.”

Steve Wozniak

Continuing with the comparison, Wozniak explained that the innovation that changed his life the most wasn’t the iphone but the App store - because of its potential as a platform.

While he personally divested himself of much of his crypto holdings a few months ago, the tech guru still says he owns 1 BTC and 2 ETH “so I can experiment with paying for different things."

Praise for Ethereum

This latest endorsement of Ethereum has been repeated often by those within and outside the crypto world.

Earlier today, William Mougayar, author of "The Business Blockchain," and CIO of new blockchain investment firm JM3 Capital - said he sees Ethereum one day overtaking bitcoin as it has the “largest ecosystem” - while Reddit founder and CEO Alex Ohanian recently commented that he sees ETH hitting $15,000 by the year’s end.

Coinbase Preparing for Stock Market Listing as Early as This Year: Report

San Francisco-based cryptocurrency exchange Coinbase has reportedly started preparing for a stock market listing that could come as early as this year.

The move would make Coinbase the first major U.S.-based cryptocurrency exchange to go public, but the listing would require the U.S. Securities and Exchange Commission’s (SEC) blessing. According to Reuters, one source claimed the exchange is considering a direct listing instead of a traditional initial public offering (IPO).

While in an IPO new shares are created, underwritten and sold to the public, in a direct listing no new shares and created and only outstanding shares are sold, with no underwriters involved. Reuters quoted three people familiar with the matter, who requested anonymity because the listing preparations are reportedly confidential.

Coinbase has not yet registered its intention to go publish with the SEC, but has already reached out to investment banks and law firms. The cryptocurrency exchange was valued at $8 billion in its latest private fundraising round in 2018.

It was founded in 2012 and now has over 35 million users, allowing them to trade various cryptoassets both on its Coinbase platform and on the Coinbase Pro platform. It also has multiple other services, including Custody, Commerce, and Earn.

The San Francisco-based firm’s bitcoin holdings are estimated to now be over 1 million BTC, as users deposit funds on it over time. Last month Coinbase revealed it suffered outages after seeing its traffic spike significantly in a few minutes, as the price of most cryptocurrencies moved abruptly.

As CryptoGlobe reported, CryptoCompare’s June 2020 Exchange Review showed Coinbase was the third-largest top tier crypto exchange by trading volume in May, trading $6.86 billion worth of crypto throughout the month, falling behind OKEx and Binance.

Featured image via Unsplash.