Former Google CEO, Eric Schmidt expressed his views on cryptocurrency and Web3 in a recent interview with CNBC.
Schmidt said that he has invested ‘a little bit of money’ into crypto, however he’s mostly interested in Web3.
He expresses his keenness of the decentralized concept saying, “A new model [of the internet] where you as an individual [can] control your identity, and where you don’t have a centralized manager, is very powerful. It’s very seductive and it’s very decentralized.”
“I remember that feeling when I was 25 that decentralized would be everything.”
He says that if he were starting out as a software engineer today, he’d want to work on AI algorithms or Web3. Schmidt also expressed his interest in ‘tokenomics’.
Tokenomics is a Web3 concept that deals with the supply and demand characteristics of cryptocurrencies. The fact that Web3 could come with new models of content ownership and new ways of content ownership is not lost on him.
“[Web3′s] economics are interesting. The platforms are interesting and the use patterns are interesting. [It] doesn’t work yet, but it will,” says Schmidt.
Schmidt also expresses the parts of this upcoming industry which he finds problematic. He feels that the time spent on securing or protecting the blockchain technology against attacks is quite wasteful.
Eric Schmidt worked as the CEO of Google from 2001 to 2011. He then served as the executive chairman until 2017 and as a technical advisor until 2020. In December of 2021, he joined Chainlink Labs, an oracle solution provider, as its strategic advisor.
