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Ex-Google CEO: Ethereum Has Major Potential (If It Figures Out Its Sync Issues)

One of the most successful CEOs and the former chairman of Google is in the latest crypto news. Eric Schmidt, who is a well-known billionaire and a budding Bitcoin and blockchain enthusiast, recently pointed out to Ethereum and its potential for success.

He made the remarks during a live event with the economist Tyler Cowen by his side, hosted by Village Global in San Francisco. In the wide-ranging conversation, Schmidt talked about the future of blockchain, the governance reforms, Google’s hiring practices and other topics.

When asked whether he thinks that blockchain was overrated, Eric said:

“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.”

Schmidt also believes that Ethereum could revolutionize business and security. As he stated:

“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.”

What’s interesting is the fact that Schmidt was an early believer in Bitcoin. In 2014, he praised the technology and labeled it “a remarkable cryptographic achievement which has enormous value.”

The whole speech can be seen on the video below.

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