Former Google CEO prefers Web 3 over cryptocurrency

Former Google CEO: Speaking on the topic of crypto, Schmidt admitted that he wants cryptocurrencies, but added that most blockchain networks spend a lot of time making sure that no one attacks them.

Former Google CEO, Eric Schmidt recently expressed his views on the emerging blockchain industry. He said that what attracts him the most is not cryptocurrencies, but the future of Web 3. Schmidt has also served as the president of Google. He said that “tokenomics” is the notion that drives his interest in Web3. However, he revealed that he has invested “a bit” in digital assets as well. Schmidt further said that if he was in a position to start his career as a software engineer today, he would have focused on AI algorithms or Web 3.

Former Google CEO prefers Web 3 over cryptocurrency

Schmidt said in an interview to CNBC that “a new model [of the Internet] where you can control your identity as a person, and where you don’t have a centralized manager, is very powerful. It’s very tempting.” And it’s very decentralized.” He continued, “I remember the feeling when I was 25 that everything would be decentralized.”

He further explained that >Web3 will lead to new models of content ownership and ways for people to earn money in return for creating them. Schmidt said that “[Web 3’s] economics are interesting. The platforms are interesting, and the usage patterns are interesting.” He adds that “[it] doesn’t work right now, but it will [in the future].”

Speaking on the topic of crypto, Schmidt admitted that he wants cryptocurrencies, but added that most blockchain networks spend a lot of time making sure that no one attacks them. According to the former Google executive, the movie is incredibly useless. Despite admitting that he owned some cryptocurrencies, Schmidt did not name the coins he had invested in.

Although his time as Google CEO was over a decade ago – from 2001 to 2011, Schmidt still served as the internet giant’s executive chairman until 2017 and its technical advisor until 2020. Since leaving the company, he has spent much of his time funding research in artificial intelligence, biology, and energy.

Sunil Kumar writes about smartphones and laptops for Gadgets 360 Tech News based out of Mumbai. He is Deputy Editor (Reviews) at Gadgets 360 Tech News. He has written frequently about the smartphone and PC industry and has an interest in photography as well.

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