During a live event in San Francisco by Village Global, Billionaire Eric Schmidt, the former chairman of Google, took the stage with economist Tyler Cowen. Schmidt pored his support for bitcoin and blockchain, especially Ethereum.
Schmidt, a budding bitcoin and blockchain enthusiast discussed a wide range of topics including the future of technology, corporate governance reform, Google’s hiring practices, and bifurcation of the internet. During the conversation, he stated that the Ethereum network could be a “powerful platform” with a massive untapped potential.
When Schmidt was asked his view about blockchain, whether it is an overrated or underrated technology, he simply put forward a compound answer:
“In the public format, overrated. In its technical use, underrated. Today, blockchain is a great platform for bitcoin and other currencies. And it’s a great platform for private banking transactions where people don’t trust each other.”
Schmidt showed an immense confidence that ethereum could revolutionize business and society. He said:
“I think the most interesting stuff that’s going on are the beginning of execution on top of blockchain — the most obvious example being the capability of ethereum. And if ethereum can manage to figure out a way to do global synchronization of that activity, that’s a pretty powerful platform. That’s a really new invention.”
The full discussion
Way back in 2014, Schmidt was a bitcoin enthusiast, an early believer in the token he has had praised bitcoin as a unique technological advancement with massive potential. He said :
“Bitcoin is a remarkable cryptographic achievement. The ability to create something which is not duplicable in the digital world has enormous value. The bitcoin architecture — literally the ability to have these ledgers which can’t be replicated — is an amazing advancement. Lots of people will build businesses on top of that.”
Schmidt’s enthusiasm is also shared by Google’s CEO Sundar Pichai, who disclosed recently that his 11-year-old son mines ethereum on a home computer.
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