Apple co-founder Steve Wozniak has joined the board of a new fintech firm promising to use the blockchain to overhaul the ATM market.
Los Angeles-based Planet Capital claims to have built the "most versatile and user friendly ATM" on the market. It taps the blockchain, cloud and unnamed patent-pending technologies to let users carry out normal cash machine transactions, as well as pay bills, complete POS transactions, acquire gift cards, and buy and sell virtual currencies.
The new firm is the brainchild of Lee Caplin, co-founder of publishing giant Penske Media, and A Lyle Elias, ATM Industry Association co-founder and PAYe Network founder. The men have also gathered an impressive collection of directors and advisors, including Wozniak, former FCC chairman Reed Hundt, Atari co-founder Steve Mayer, and former Carlyle Group CFO John Harris.
Says a statement: "Planet’s strategy is to deploy kiosks free of charge, removing the ‘pay wall’ and common financial barriers for many merchants desiring to install service-ready, multi-function ATM’s to meet their clients growing financial, digital and virtual needs within this fast-moving economy."