The former Google CEO Eric Schmidt is passionate about encryption and blockchain. He thinks that Ethereum is a powerful platform with enormous untapped potential. Schmidt made these comments recently during a live event with the economist Tyler Cowen who was hosted by Village Global in San Francisco.
The conversation covered a wide range of topics in which Schmidt discussed the future of technology, Google hiring practices, corporate governance and bifurcation of the Internet.
The Ethereum Blockchain has enormous potential
He asked to share his thoughts on blockchain technology. If it is overvalued or underestimated to which it says;
"In the public format, overvalued.In its technical use, undervalued.Today, blockchain is a great platform for bitcoin and other currencies.Also, it is a great platform for private banking transactions in which people do not trust the. one of the other ".
The billionaire goes on to add that there are exciting developments taking place on the Ethereum platform that promises 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 the ability of Ethereum, so if Ethereum can find a way to do the global synchronization of that activity, this is a rather powerful platform.This is a new invention. "
It is a bullish valuation shared by the co-founder of Ethereum, Vitalik Buterin.
It is not the first time that Schmidt has made bullish claims regarding cryptocurrencies and blockchain technology.
He was one of the first to believe that Bitcoin had been introduced into the crypto-coin in 2011 by Julian Assange, the creator of Wikileaks.
Assange pushed him to embrace BTC because it would have been precious one day.
"You should be one of the first to adopt it because your bitcoins will be worth a lot of money someday."
In 2014, Schmidt praised bitcoin, hence an obscure currency as a unique technological advance that had enormous potential.
"Bitcoin is a noteworthy cryptographic result – the ability to create something that is not duplicable in the digital world has tremendous value – it's an incredible progress and many people will build businesses in addition."
Basil has three years of freelance experience writing about disruptive technologies. It focuses on latest news and pieces of education; helping to spread the Gospel of Blockchain. He hopes to have his blockchain company one day; help the world through its innovative ledger technology.