Cofounder of Apple (AAPL) -0.56%, Steve Wozniak is one of those people who like cryptocurrencies, but he says that they won’t be allowed if government can’t control them.
“Trouble is, the government will never allow it to be out of their control," (Business Insider, 2021) said Wozniak in an interview with Yahoo Finance on Friday.
"If it got to the point that everything was being done with crypto, and it didn't pass through governments for observation and taxation and all that, now governments would just disallow it. They wouldn't give up their power" (Business Insider, 2021) – he added further.
According to the tech entrepreneur cryptocurrencies will be developed into an effective payment method.
He seems not to have an opinion whether it is a good thing that cryptocurrencies are anonymous. "Crypto just has a little bit of anonymity. And I don't know if that's right, that 'Oh, gosh, I can do things without people knowing” (Business Insider, 2021) – said Wozniak in the interview.
CEO of CoinFlip, Ben Weiss is convinced that people should not be allowed to buy cryptocurrencies if they don’t verify their identity. In his opinion going through KYC (Know Your Client) check should be necessary, people should provide some form of identification.
The chairman of the SEC, Gary Gensler believes that crypto industry needs to be regulated and cryptocurrencies can only become mainstream if there are clear regulations set on them.
The reason why Wozniak likes bitcoin (BTC) -0.49% is that its amount – compared to other currencies like for instance the US dollar - is limited. "Bitcoin is mathematics, mathematical purity. There can never be another bitcoin created." (Business Insider, 2021)– he said.
Wozniak believes that blockchain can be useful in many things like voting in political elections as “it has a very trustable format that can’t be modified easily”. (Business Insider, 2021)
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*Stock percentage taken on 02.11.2021 at 09:24.
*Nagarajan, Shalini (1. November 2021). Business Insider: Apple cofounder Steve Wozniak warns governments will never give up control of cryptocurrencies. Last viewed on 1. 11.2021 on https://markets.businessinsider.com/news/currencies/steve-wozniak-bitcoin-apple-crypto-government-control-mathematical-purity-2021-11
