Apple’s Steve Wozniak, known more fondly as Woz, has just provided a major boost to the blockchain and crypto industry by throwing his weight behind a project. He recently co-founded EQUI Global, the blockchain-based venture capital fund. This fund is built on a blockchain-powered backend and supports the development of the technology.
Wozniak had hinted at his plans to get involved with blockchain back in August and this move comes as an affirmation of his intentions. EQUI Global’s purpose is to revolutionize the traditional industry by allowing both non-institutional and institutional investors to trade on external crypto exchanges via EquiTokens.
So what is EquiToken? Apparently Equitoken is a tool that is widely used by developers working on decentralized applications. It is based on the Ethereum blockchain. Wozniak has mentioned that the company’s aim is to “seek, support and fund the blockchain and tech stars of tomorrow.” and to that end, they have already collaborated with more than 20 businesses that are still not present on the market.
The entire model of investing in Equitokens has been developed in such a manner that it will allow for investors to easily liquidate their tokens via various crypto exchanges. EQUI Global is planning to target “sophisticated” investors who have considerable interest in venture capital funding. The revenues collected from the Equitokens will be funelled into various sectors. Eighty percent of it will go into technology companies, and the rest will probably go to other sectors like real estate and art.
This move comes as a big deal for the tech world. An esteemed tech entrepreneur like Wozniak gets business propositions every single day. However, he claimed that this is only the second time in twenty years that he has agreed to come onboard a project.
Wozniak’s support for a venture like this will go a long way to prove to the technology world that blockchain and crypto are here to stay.