During a live event hosted by Village Global in San Francisco, Schmidt discussed everything from corporate governance to his opinion on early vs. late Picasso. However, perhaps the most notable topic discussed during the event was crypto, where the interviewer asked Schmidt, “Blockchain, overrated or underrated?”
Schmidt responded as many do, saying that its public format is overrated while its technical use is underrated.
“Well, 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,” said Schmidt. “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. 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.”
Schmidt is the third major current or former Google executive to reveal an interest in cryptocurrency. Most recently, current CEO, Sundar Pichai, made it known that his son is apparently using the family’s home PC to mine Ethereum.
As we previously reported, the company itself has not been overly active in the space, with few major public investments to date through GV.
More: Eric Schmidt on the Life-Changing Magic of Systematizing, Scaling, and Saying “Thanks” (Ep. 53 — Live)
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.