Eric Schmidt, an ex-CEO of Google has voiced out his opinion on the fast rising blockchain technology. He stated that he found the future of Web 3.0 more enticing than the concept of crypto itself, even though he recently added some digital currency into his investment portfolio.
Schmidt Is More Interested In Web 3.0
In an interview with CNBC, Schmidt described the emerging Web 3.0 as a very powerful internet model because it will allow individuals to control their identity and also eliminate the use of middlemen or centralized managers as it is completely decentralized. He adds that it can be very seductive though, and it also makes him reminisce back then when he was 25 and used to envisage that everything would soon be decentralized.
The former Google CEO stated that he would prefer to specialize on either Web 3.0 or AI algorithms if he was to pick up a course today in software engineering. He added that of all the features of Web 3.0, he is particularly interested in the concept of “tokenomics.”
Web 3.0 is otherwise called the “new age internet world” which makes use of decentralized blockchains to build services. The concept of tokenomics deals with the demand and supply features of crypto assets.
Schmidt expressed that he strongly believes that the new age internet model is going to open doors for new forms of content ownership and means of rewarding its users. He added that the economics of Web 3.0 is quite fascinating, its platforms are enticing and the structural designs are adorable. He said even though the Web 3.0 concept is not working yet, he is optimistic that it is going to work soon.
The Former CEO At Google Invested In Crypto
Eric Schmidt revealed that he recently started adding crypto to his investment portfolio in little quantities, although he did not reveal the digital currencies he has invested in. talking about bitcoin, the ex-CEO said that the issue with the model is that it requires a lot of energy and many hands walking being its systems all day, defending it against attacks and hacks. He concluded that it is incredibly wasteful.
Numerous individual and institutional investors have been trooping into crypto recently, and the main target is to understand the mechanism of the technology and economics of blockchain.