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Bill Schmidt and former CEO of Google, Eric Schmidt is a fan of blockchain and cryptocurrency. He declares that Ethereum could become a powerful platform whose potential is "outside the box". He made the comment during a live event with the economist Tyler Cowen hosted by Village Global in San Francisco.
Ethereum has great potential according to Schmidt
Global village invited more than 150 speakers for his event in September, and wrote the following about the well-known Eric Schmidt.
"Eric Schmidt, former CEO of Google and president of Alphabet, is one of the most influential technology executives in the world. At Village Global, we are honored to have him among the small group of LP luminaries whose financial capital and engagement power nurture our founding network. "
The conversations they were not just on blockchain, but they ranged from the future of technology, corporate governance reform, Google's recruitment practices for cryptocurrencies. Schmidt was asked about his point of view on the blockchain and whether he thought it was undervalued or overvalued. He gave a divided answer depending on which aspects you take into consideration.
"In the public format, overrated, in its technical use, undervalued," he said. "Today, blockchain is a great platform for bitcoins and other currencies, and it's a great platform for private banking transactions where people do not trust each other".
Schmidt argues that although many blockchain projects are interesting, Ethereum it's the most interesting It has the potential to revolutionize businesses and society.
"I think the most interesting thing that is happening is the beginning of the execution at the top of the blockchain.The most obvious example is Ethereum's ability, and if Ethereum can find a way to do the global synchronization of that activity, it can become a rather powerful platform.This is a new invention. "
Is Ethereum powerful enough?
Ethereum is facing a scalability problem and can only verify about 20 transactions per second. researchers they are, however, looking for ways for the blockchain to execute over 17,000 transactions per second. The price of Ethereum is currently around $ 200and there have been many predictions about where the price could end. The head of Fundstrat research, Tom Lee, has realized the rounds with a new bullish forecast for ethereum and said he could see ethereum around $ 1900 in 2019.
Most recent news Vitalik Buterin reveals that Ethereum 2.0 may not be too far. The founder states that the update could be a new chapter for Ethereum.
Image source: "Flickr"
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