Eric Schmidt, billionaire and former CEO of technology giant Google, said that Ethereum can be a “powerful platform” with untapped potential that lies beyond the ether price. Schmidt talked at a private event, organized by venture capital firm Village Global
Eric Schmidt and Tyler Cowen talked about diverse topics, ranging from the future of technology to the Antarctic, human life expectancy, Google’s hiring practices, and blockchain technology.
When asked what he thinks about Blockchain technology, Schmidt gave a very positive response to the private sector:
“In public use, overrated. Underestimated in its technical use. Today, Blockchain is a great platform for Bitcoin and other cryptocurrencies. And it’s a great platform for private banking transactions, where people do not trust each other.”
Schmidt sees a bright future for Ethereum
He went on, praising the potential of the Ethereum platform. Schmidt believes that Ethereum will come up with exciting developments in the future that could revolutionize economy and society:
“I think the most interesting stuff going on here is the beginning of execution on Blockchain, with the most obvious example being Ethereum’s ability. And if Ethereum manages to find a way to globally synchronize this activity, that’s a pretty powerful platform. This is a really new invention.”
Interestingly, Eric Schmidt was an early adopter of Bitcoin. He had already been in contact with the cryptocurrency in 2011 through Julian Assange, the founder of Wikileaks. Assange told Schmidt to accept Bitcoin early on, because one day it will be valuable.
In 2014, Schmidt praised Bitcoin as a unique technological advance with great potential that represents a remarkable cryptographic achievement. Since Bitcoin solved a major problem in the digital world: the ability to create something that is not duplicable in this world. At the time, he also explained that many people are starting businesses based on Bitcoin architecture.