Eric Schmidt, former CEO of Google and executive chairman of Alphabet, one of the world's most influential technology executives, recently spoke in a live event hosted by Village Global, a leading venture capital firm. At the event, Schmidt gave his ideas on blockchain and expressed his point of view about whether he was overvalued or undervalued and said:
"In the public format it is [Blockchain] it is overrated but in its technical use it is underestimated. "
Blockchain, as a concept, is strongly overrated in the public format because some speculators refer to the boom in Bitcoin in 2017, which gave the spotlight to the blockchain. Blockchain is undervalued because it has a lot of use cases that have not yet been implemented.
The former CEO said that blockchain is a great platform for Bitcoin and other currencies because it is used for private banking transactions where people do not trust each other. He explained that the cases of use of Blockchain we are developing are the tip of the iceberg. He said:
"The most obvious example is Ethereum's ability, and if Ethereum can find a way to make the global synchronization of that activity, this is a pretty powerful platform.This is a really new invention. . "
Ethereum, also known for its smart contracts and broad adoption, recently lost second place and dropped out in third place while XRP passed it during its recent rally on 6 November. Although XRP has enjoyed its position briefly, Ethereum has regained its position a few minutes later.
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