Eric Schmidt, the former CEO of Google, whose fortune is $22.8 billion, said he has invested “some” money in cryptocurrency. He added that he thinks the Web3 economy is “interesting,” noting that the platforms and usage models are interesting.
Former Google CEO Eric Schmidt discusses crypto investment and Web3
Former Google CEO and chairman Eric Schmidt talked about cryptocurrency investments and Web3 in an interview with CNBC published Thursday.
Schmidt served as CEO of Google from 2001 to 2011. He remained as executive chairman until 2017 and technical advisor until 2020. His net worth is currently $22.8 billion, according to the Bloomberg Billionaire Index.
As for his own crypto investments, he revealed that he has invested “some” money in cryptocurrency, without naming specific coins. He went on to explain that he was just starting to invest in cryptocurrency.
The 67-year-old explained that for him the most interesting part of blockchain is Web3. He expressed his opinion:
The new model, where you as an individual control your identity and where you don’t have a centralized manager, is very powerful. It is very seductive and very decentralized.
“I remember that feeling when I was 25 years old that decentralization would be everything,” he added.
The former Google executive noted that if he were starting out as a software engineer today, he’d want to work on AI or Web3 algorithms.
Schmid clarified that his interest in Web3 has to do with “tokenomics,” which deals with the characteristics of supply and demand.
Schmidt clarified that his interest in Web3 is related to “tokenomics,” which deals with the supply and demand characteristics of cryptocurrencies.
Noting that Web3 may come with new models of content ownership and new ways to compensate people, the former Google boss clarified:
The economics of [Web3] are interesting. The platforms are interesting, the usage models are interesting.”
However, he noted that it “doesn’t work yet, but it will.”
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