Whilst blockchain technology has its critics, one such ex corporate heavyweight in former Google CEO, Eric Schmidt believes that ethereum could become a “powerful platform” with enormous, but not yet realised potential, according to CCN.
In a live event hosted by Village Global with economist Tyler Cowen, Schmidt made a number of remarks commenting on the blockchain technology’s potential and the ability for other businesses to emerge as a result of its existence.
In particular, in response to whether he felt blockchain was overrated or underrated, he noted:
“In the public format, overrated. In its technical use, underrated. 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.”
He further indicated that ethereum has the capability of revolutionising the way business is being done and therefore society more broadly.
“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.”
There is no doubt Schmidt’s view is shared by many close to ethereum and with the focus of developers in the open-source community of ethereum, it won’t be surprising to see further advancements on this extraordinary technology.
This excerpt/article was originally posted by the CCN. For full article, click here.