In 2014, former Google CEO calls BITCOIN as a “remarkable cryptographic achievement”

An 8-year-old video is now resurfacing where Eric Schmidt appreciated Bitcoin as a remarkable cryptographic achievement.

Eric Schmidt is 67 years old American businessman and software engineer. He is popularly known for being the CEO of Google from 2001-11, executive chairman of Google from 2011-15, executive chairman of Alphabet Inc from 2015-17, and also a technical Advisor at Alphabet from 2017-20. 

In the latest, a video is getting huge traction in the crypto Industry. That video is 8 years old. In 2014, Eric talked about Bitcoin and labeled it as an achievement for cryptographic history. 

Speaking at the Computer History Museum in 2014, Eric said:

“Bitcoin is a remarkable cryptographic achievement…(..)…The ability to create something which is not duplicable in the digital world has enormous value.”

At that time, Eric also noted that the use of DLT in the creation of bitcoin is very useful for tech businesses because they can implement Bitcoin accounts directly in their protocols. 

“The bitcoin architecture, literally the ability to have these ledgers which can’t be replicated, is an amazing advancement. Lots of people will build businesses on top of that,”

The interest of the former Google CEO is much aligned with his current interest in the Web3 sector. According to him, web3 is an ecosystem where a person can control all his personal information and data, because of the unavailability of centralized authority.

“(In Web3) you don’t have a centralized manager, which is very powerful. It’s very seductive and it’s very decentralized”.

However Eric is friendly toward the decentralized blockchain technology and based development works but still, he remains against the existing present-time crypto projects, which always ensure they are not attacked, which is a waste of time for him. Once former Google CEO also criticized the Metaverse concept because of the unclear definition and unconfirmed precise use case Metaverse. 

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