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Crypto: Former Google CEO invests in cryptos

Former Google CEO Eric Schmidt is interested in the development of web3 and cryptos. Very confident about the future, he says it’s only a “matter of time”.

A new influential personality announces to invest in cryptos and especially to believe in them. Eric Schmidt, the former CEO of Google, gave an interview to the American television channel Consumer News and Business Channel (CNBC) in which he displays an optimistic position towards cryptos and more generally towards the web3 for the future. He underlines for example “it doesn’t work yet, but it will work”.

Eric Schmidt is an American businessman. He was CEO of Google for more than 10 years (from 2001 to 2011) before becoming in 2017 the Executive Chairman of Alphabet Inc, holding and parent company of the Google subsidiary since 2015. Finally, he will leave this position in December 2017 but will remain a technical advisor until 2020. In addition, Eric Schmidt has always maintained a more or less important role within the Google company although he left his position as CEO. Since these experiences, he is moving on to new projects where he can work on AI algorithms and/or Web3.

He revealed to CNBC that he has started investing in crypto, including personally as he has put “some” money into it. On the other hand, he did not name a particular crypto.

Eric Schmidt defender of a decentralized model?

decentralization blockchain crypto

Eric Schmidt finds the Web3 economy interesting, especially its usage models and the way platforms work.

He explains in the CNBC interview that his interest in Web3 is particularly focused on “Tokenomics“. Simply, the notion of Tokenomics represents, for a crypto project, the analysis of how the creation of tokens will be managed for the proper functioning of the project. Eric Schmidt explains how to analyze the specific characteristics of the supply and demand of crypto. You can check out Coinacademy’s article on this topic to learn more about this concept.

We can deduce from Eric Schmidt’s words that he is an advocate of the decentralized model. A dream that could not be realized at the time but that he seems to have kept in mind all these years:

“I remember that feeling when I was 25 years old that everything would be decentralized.”

Eric Schmidt, former Google CEO

“A new model where you as an individual control your identity, and you don’t have a centralized manager, is very powerful. It’s very attractive and it’s very decentralized.”

Eric Schmidt, former Google CEO

Eric Schmidt’s position is very interesting because it shows that companies as large as Google could be in favor of cryptos. According to him, Web3 brings “new models of content ownership and new ways of paying people“.

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