Steve Wozniak Says It’s Not Impossible To Detect Crypto

Apple co-founder Steve Wozniak has said in an interview that although he sees a lot of promise in crypto and its applications, its hard-to-trace nature could be detrimental to global adoption. Wozniak, who recently co-founded a blockchain company of his own at fForce, believes cryptocurrencies have “very promising potential” for the benefits of blockchain technology, but he believes ​—that every transaction should be transparent and traceable and that the nature of ‘untraceable’ crypto is one that needs a workaround.

During an interview with Yahoo Finance, Wozniak said, “I’m in the camp that crypto will be used effectively. We have so many digital ways to pay for things right now, even people with money.” To transfer as well.” “And [with] Crypto, it’s hard to figure out who’s doing what. Although it is possible,” he said.

In the same interview Wozniak also noted that bitcoin, the world’s largest cryptocurrency by market capitalization, is “only mathematically pure” and impossible to copy. Comparing this with the US dollar, he said that governments get power from the transactions that pass through them for observation and taxation.

The programmer behind the first Apple Computer stated that there is some anonymity about bitcoin and other crypto coins, but they are not controlled by a single entity such as the US dollar. “Bitcoin doesn’t even have a creator that we know of, it’s not run by a company, it’s just mathematically pure, and I believe that nature is always on humans.”

Reiterating how that very anonymous nature could hurt its prospects, he said, “You should be able to stand up and say that I did this transaction.”

Efforce, Wozniak’s blockchain-based energy-efficiency project, launched back in December 2020, allows contributors to fund efficiency improvement projects by investing in WOZX tokens and repay in tokens representing the energy savings achieved .

Interested in cryptocurrency? We discuss all things Orbital with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.


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