Former chairman of Google and billionaire investor Eric Schmidt told economist Tyler Cowen that Ethereum blockchain is a powerful platform with endless possibilities. The two met in San Francisco at a live event sponsored by Village Global.
Schmidt and Cowen discussed a range of topics including bifurcation of the internet, Google’s hiring practices, governance reform and the future of technology.
Ethereum has an immense potential
Cowen asked him whether blockchain is overhyped or undervalued. “Today, blockchain is a great platform for bitcoin and other currencies. And it’s a great platform for private banking transactions where people don’t trust each other,” Schmidt said.
The former Google chairman believes that the Ethereum blockchain has the potential to disrupt many sectors.
His bullish sentiments are echoed by Ethereum co-founder and one of the most talented programmers Vitalik Buterin.
Recently, Buterin rubbished rumors that he is stepping down. However, he said that he’s already made significant progress in detaching himself from the world’s second largest cryptocurrency by market cap that he created. Many cryptocurrency founders such as Satoshi Nakamoto and Jed McCaleb walked away from the projects they founded. So most crypto enthusiasts think it’s time Buterin should do the same.
Julian Assange advised him to invest in Bitcoin
Schmidt has been a firm believer of bitcoin since 2014, according to him. He was first introduced to it by Julian Assange. The controversial Wikileaks founder allegedly advised Schmidt to invest in BTC as it would be valuable in the future. “You should be an early adopter because your bitcoins are going to be worth a lot of money one day,” Julian urged him.
Schmidt whose net worth stands at an eye-watering $13 billion did not jump on the bitcoin bandwagon for money, but he was reportedly fascinated by the immense potential of the technology behind it.