- Ex-Google CEO and Chairman express his views on the next iteration of the internet.
- He highlighted that he has invested some money in crypto, but it’s not virtual currencies that are the most interesting part, it is Web3.
- He joined Chainlink Labs in December 2020, the San Francisco-based Research initiative as its Strategic Advisor.
Eric Schmidt, former CEO and chairman of Google, has recently highlighted his views about Web3, the next evolution of the internet.
In a discussion with CNBC, the billionaire noted that he is interested in Web3, having also invested some money in digital assets. And that the idea of a more decentralized model of the internet is very seductive and powerful.
Focusing On Attack is Incredibly Wasteful
Eric Schmidt had been a part of Google and Alphabet, its parent company for roughly two decades and has served various roles there till he decided to leave in 2020. He joined Chainlink Labs last December as its strategic advisor. Chainlink Labs is the developer of the blockchain oracle solution provider Chainlink.
Furthermore, he highlighted that Web3’s economics is interesting. And that the platforms and the use patterns are interesting. He also referred to the concepts like content ownership and compensating people, noting that it does not work yet but they will.
Web3 as a concept is quite fascinating for a lot of entities worldwide. It is a term being randomly heard almost everywhere now. It is basically the decentralized internet functioning on blockchain technology providing folks with more liberty and ownership
Schmidt further signified regarding the blockchain technology that one of the biggest challenges it is facing is that a lot of time is being wasted on taking care of attacks. Although he did not specify as to which cryptocurrencies he owned.
He cited that if he was just initiating his career as a software engineer, he would want to work on AI algorithms or Web3.
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Metaverse, Gaming, and NFTs are all trending concepts among the current generation. But the similarity between all of them is that they all set a base for Web3. It gives people the power to own their data, and none of the organizations out there would have possession over it. And due to its vast and varied possibilities, venture capital firms and others aren’t hesitating before betting big on Web3.
Source: https://www.thecoinrepublic.com/2022/04/29/former-google-ceo-has-invested-in-crypto-but-thinks-web3-to-be-very-powerful/