A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
"You need to understand that we're about to embark on the busiest week of the year for industrial earnings," CNBC's Jim Cramer says.Mad Money with Jim Cramerread more
Boston Federal Reserve President Eric Rosengren is lining up against an apparent push to cut interest rates, telling CNBC in an interview Friday that the central bank can...The Fedread more
The MTA reported that the 1, 2, 3, 4, 5 and 6 trains are all facing delays due to a network communications issue impacting service in both directions, NBC New York reports.Transportationread more
Companies aren't waiting for the U.S.-China trade war to be resolved, says the head of the world's biggest money manager.Investingread more
US officials including Treasury Secretary Steven Mnuchin and White House economic adviser Larry Kudlow will host a meeting at the White House on Monday of semiconductor and...Technologyread more
Trump's constant berating of the Fed and its actions does not influence the central bank's decisions, Boston Fed's Eric Rosengren says.The Fedread more
The lawsuits allege J&J's talc-based baby powder contained asbestos and caused ovarian and other cancers.Health and Scienceread more
“It was a bubble, and I feel that way about blockchain,” Wozniak said Tuesday on stage at the NEX technology conference in New York.
A good portion of the companies promising to do life-changing things on the internet quickly went bust, Wozniak reminded the audience.
Still, he said blockchain technology has real implementation potential, because it’s “decentralized and totally trustworthy.” But like the internet, it could take longer than expected to catch up to its early hype.
“If you look now you say all that internet stuff happened, we got it, it just took a while,” Wozniak said. “It doesn’t change in a day, a lot of the blockchain ideas that are really good by coming out early they can burn themselves out by not being prepared to be stable in the long run.”
Bitcoin was the first use for blockchain, but the technology has been applied to countless other applications since. It records transactions on a public, distributed ledger, which advocates tout as faster and more secure and say gets rid of the need for a third party in many cases.
Wozniak highlighted Ethereum as having potential to outlive the hype because of its use case, and ability for programmers to build their own related projects. Ethereum is the name of the foundation that created the digital token ether, which was first launched as a fundraising effort to develop the platform. Companies like Microsoft and J.P. Morgan, are developing uses for the Ethereum blockchain.
Bitcoin, which Wozniak has called digital gold, despite being down more than 50 percent this year, is still "just amazing," he said.
Wozniak founded Apple with Steve Jobs in 1976 and was behind the launch of the company's first personal computers. He sold all but one bitcoin last year when the digital asset was soaring to a high near $20,000 after originally buying the cryptocurrency so he could one day travel without carrying cash or credit cards.
“All of the sudden it was way down, then way up in the sky,” he said. “I got scared, and sold everything but one bitcoin.”
Wozniak also floated the idea of using blockchain for social networks, and a competitor to Facebook, which he said is ripe for disruption and operating a monopoly at the moment.