Apple co-founder Steve Wozniak announced Tuesday that he’s now working with investment-focused crypto startup Equi Capital.
Wozniak announced the news in an interview with NullTX on the sidelines of the ChainXchange blockchain conference held in Las Vegas last week.
“I’m involved with, very soon, my first time being involved in a blockchain company. [It’s] called Equi. 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,” Wozniak stated.
Equi aims to act as an investment firm, Wozniak said. According to the startup’s Twitter page, it hopes to help both retail and professional investors purchase equity in companies in an effort to replace traditional investing firms.
The tech guru did not reveal what position he will hold at the startup. He indicated, however, that Equi may register in Malta in November, around the time of the island’s blockchain summit.
The tech guru’s choice of first crypto project is perhaps a little surprising. Equi, as reported by The Next Web, has had something of a bumpy path so far. Initially launching its token via an ICO, lack of interest and missed targets reportedly saw the sale cancelled and pre-sale investors refunded.
A follow-up bounty scheme to reward users with tokens for publicizing the project also saw major issues when a partner marketing company soon walked away, the news source indicates. Going the bounty route also raises the thorny issue, as reported by CoinDesk, that the U.S. Securities and Exchange Commission has indicated that even giving away tokens may break securities rules.
At press time, Equi’s website was not working.