Investment-focused crypto startup Equi Capital has Apple’s Steve Wozniak on board as a co-founder. In an interview for Null Transaction, Wozniak said it’s his first time collaborating with a blockchain company and that he is “amazed at the technology behind [cryptocurrency]”.
Wozniak also added that Equi will work as an investment firm. The startup plans to help retail and professional investors purchase equity in companies aiming to replace classic investment companies.
Apple’s co-founder explained their approach is to help distinguished investors. The company may be registered in Malta, since this country has been focused on creating a friendly regulatory environment hoping to draw in blockchain and crypto-related companies.
“Our approach is not like a new currency or something phony where an event will make it go up in value. It’s a share of stock, in a company. This company is doing investment by investors with huge track records in good investments in things like apartment buildings in Dubai. We have one person in our group who has listed out a whole apartment building for bitcoin.”
He didn’t get into the details regarding his role in the company but he did praise the potential applications for blockchain technology.
“I’ve encountered people working in real estate avenues, types of Uber systems, everything we’ve got in our life, especially involving transactions – retail sales, car sales, manufacturing of goods … working on bitcoin applications … and they all have value.”
, said Wozniak.
Equi has had a pretty rough start according to a report by The Next Web which blamed the tech celeb of having “terrible taste in cryptocurrency”. The startup’s initial ICO token launch ended up with the sale canceled and pre-sale investors refunded due to missed targets and lack of interest.
The crypto startup attempted a follow-up bounty scheme to reward users with tokens for advertising the project. However, issues arose when one of the partner marketing companies decided to back out.
Bounty schemes also complicate matters legally, as the SEC (U.S. Securities and Exchange Commission) has shown that giving away tokens could contravene securities rules.