In a recent video, former Google CEO Eric Schmidt called bitcoin technology a major advance on the crypto scene.
Speaking at the Computer History Museum in 2014, Schmidt noted that blockchain technology is important, while expressing doubts about using BTC as a currency.
In the future, he said, bitcoin’s technological tweaks could enable the growth of businesses. Schmidt spoke out this way at a time when bitcoin is not yet widely accepted in the world, and his position should be seen as an acknowledgement of the cryptocurrency’s good prospects.
Bitcoin is a remarkable cryptographic achievement,” he said. – The ability to create something that cannot be replicated in the digital world is of tremendous value…
The architecture of bitcoin, the ability to have these registries that can’t be replicated, is an amazing achievement. A lot of people are going to build a business on that.
This view of Schmidt is consistent with his recent speech on interest in Web3:
The new [Internet] model, where you as an individual can control your identity and where you don’t have a centralized manager, is very effective. It’s very seductive and very decentralized.
A former Alphabet tech consultant confirmed that his interest in Web3 has to do with tokenomics, a system that affects the specific supply and demand characteristics of digital currencies.
Interestingly, the top executive joined the Chainlink team as a strategy advisor in 2021. He is also the co-author of the book “The Age of AI,” which outlines the future of the technology sector.
Interestingly, Schmidt is critical of existing blockchains, noting that most of them focus on preventing attacks on them, which he considers a waste of time.