Google ex president impressed on the functionality of Ethereum


Cryptocurrencies and blockchain technologies have received the support of many influential people in the world of finance and technology, despite the current bearish downturn that markets have suffered during 2018.

One of the last personalities to be on the list of those who are attracted to this type of technology is Eric Schmidt, former Google billionaire president, who pointed out in an interview that Ethereum is so powerful that it could be the & # 39; beginning of a technological revolution that changes the way modern society does business.

Blockchain: socially overvalued, technologically undervalued

Speaking in a podcast hosted by the famous economist Tyler Cowen, Schmidt shared his impressions on a wide repertoire of topics, however, speaking of blockchain technologies, his intervention, although brief, was rather optimistic.

Tyler asked Schmidt about his opinion on various technologies. Schmidt had to say whether they are overvalued or undervalued. When it was his turn to talk about the blockchain, Schmidt said:

"In the public format [it is] overrated. In its technical use [it is] underestimated. "

This point of view has been shared by an important number of investors, who recognize the value of the technologies but criticize the "miraculous" concept that many have of blockchain technologies.

Schmidt: a great believer in Ethereum

Schmidt is from the group who believes that even if the public tends to overestimate the current influence of technology, they are actually full of potential:

He went on to explain that the blockchain currently has fascinating uses in the financial sphere; however, he was particularly emphatic in emphasizing the potential of Ethereum as "the most obvious example" of what blockchain technologies can achieve:

"[Blockchain is] a great platform for private banking, banking transactions where people do not trust each other.
I think the most interesting pivot that is happening is the beginning of the execution at the top of the blockchain; The most obvious example is the ability of Ethereum: if Ethereum can find a way to make the global synchronization of that activity, this is a rather powerful platform. This is a really new invention. "

According to a transcript of a conversation available on Wikileaks, Schmidt learned about Bitcoin from a conversation with Julian Assange in 2011.

Below is a complete video of the conversation between Eric Schmidt and Tyler Cowen on The Future of Technology & Society

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