In an exclusive interview with Null TX, Steve Wozniak has announced that he is working with Equi on their blockchain project. The only problem is that the Equi project itself has already come under serious scrutiny for the way it has run its ultimately unsuccessful ICO.
Wozniack has long been a lover of Bitcoin, and he explained to Null FX:
At first I kept hearing about blockchain, and I didn’t understand it. It’s not something you understand in a day. You think about it, read more about it and how it works, and then you see how people actually start to use it, through the mining process and also the verification and, “Aha!” It all adds up!
He then went on to tell the publication that he had started working with “a blockchain company called Equi. Our approach is not like a new currency, or something phoney where an event will make it go up in value. It’s a share of stock, in a company”.
Equi Capital is a startup focused on investment through a blockchain platform, with an Ethereum-based token as the mode of purchase. As Wozniack explained: “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 went on to say that they were looking at Malta as a registration base.
The only problem is that Equi Capital don’t appear to be much more than a typical scam. Alarm bells will always ring for seasoned investors when the main endorsement is a celebrity rather than an industry expert, and Equi Capital is certainly no exception here. The firm was started by UK-based celebrity baroness Michelle Mone, and failed inn its attempts to raise a reported $75 million for its ICO, despite a six-week extension. Then, the management company behind its bounty campaign deserted, and the ultimate upshot was that bounty hunters were offered a mere fraction of the original total, and ICO investors were refunded following an unsuccessful fundraising campaign.
As Bitcoin.com reported,
The Scottish lingerie entrepreneur has a string of failed ventures and dubious business practises to her name, but there was no mention of that in a Sky News story, which has since been deleted. Whatever her ICO may be, it has nothing do with helping women. The piece is riddled with preposterous claims that crypto heads would see through instantly, but that could easily hoodwink newcomers including the women the project is supposedly designed for.
The only question remaining, bearing in mind these revelations and the US SECs recent comments suggesting that there is doubt of the legality of bounty campaigns, is “What is Steve Wozniack doing?”
What’s your take on Wozniack’s alignment with the disastrous Equi Capital ICO? Let us know your thoughts.