Google Chairman Eric Schmidt: Bitcoin Architecture an Amazing Advancement

Jayanand Sagar | March 16, 2014 | 9:29 am

Google Chairman Eric Schmidt: Bitcoin Architecture an Amazing Advancement

Jayanand Sagar | March 16, 2014 | 9:29 am

Eric SchmidtSpeaking at the Computer History Museum, Google Chairman (and former CEO) Eric Schmidt had some good things to say about bitcoin.

“[Bitcoin] is a remarkable cryptographic achievement,” he said on a panel. “The ability to create something which is not duplicable in the digital world has enormous value.”

And while Schmidt wasn’t exactly singing praises with regard to bitcoin’s implementation as a currency, he see this technology as important.

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

Schmidt isn’t the only person at Google who sees potential in bitcoin. Just recently, Google Director of Ideas Jared Cohen said that “[cryptocurrencies like bitcoin] are inevitable“.

Of course, still no sign that Google will implement bitcoin into any of their products, but one day at a time. [via BitcoinOwl]

The video is above. You can catch his comments in the first couple of minutes, followed by his views on other topics.

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