Billionaire Ex-Google CEO Eric Schmidt, who has been a great lover of cryptocurrency and its underlining technology, blockchain, has pointed that Ethereum could be a “powerful platform” whose untapped potential is off-the-charts.
In San Francisco at an event hosted by resourceful economist Tyler Cowen, Schmidt spoke lengthily about the prospects of technology, corporate governance reform, Google’s hiring modalities, bifurcation of the internet, among other things.
When he was asked on whether blockchain technology was underrated or overrated, the former Google CEO said the 21st century disruptive technology in the public format is “overrated”. However, he said “In its technical use, underrated.”
He stepped forward saying “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.”
Speaking about Ethereum, Schmidt sees that more mind blowing innovations and developments are happening with Ethereum. He added that these could revolutionize the society and business at large.
“I think the most interesting stuff that’s going on are the beginning of execution on top of blockchain — the most obvious example being the capability of Ethereum,” Schmidt said.
“And if Ethereum can manage to figure out a way to do global synchronization of that activity, that’s a pretty powerful platform. That’s a really new invention.”
In 2011, Wikileaks founder Julian Assange introduced Schmidt to Bitcoin hoping that it’s going to be valuable in the future.
Assange told Schmidt: “You should be an early adopter, because your bitcoins are going to be worth a lot of money one day.”
Schmidt shares the same perspective with Ethereum co-founder Vitalik Buterin who recently regarded the rumour that he was not interested in adding more to Ethereum development as unfounded.
Buterin then maintained that, as usual, he’s dedicating his time to focus on the works of other Ethereum developers in the open-source community.