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Former Google CEO Eric Schmidt is a believer in Web 3.0 and owns the cryptocurrency ‘Little Bit’

Eric Schmidt, the former CEO of Google, recently shared his thoughts on the emerging blockchain business. He claims that the future of Web 3.0, not cryptocurrency, fascinates him the most. He did, however, admit to investing a “small bit” of money in digital assets. Schmidt stated in an interview with CNBC:

“A new model [of the internet] where you as an individual [can] control your identity, and where you don’t have a centralized manager, is very powerful. It’s very seductive and it’s very decentralized. I remember that feeling when I was 25 that decentralized would be everything.”

Web 3.0 refers to the next-generation internet, in which services are based on decentralized blockchains. If Schmidt were to start his career as a software engineer today, he would focus on AI algorithms or Web 3.0, according to Schmidt.

He also mentioned that “tokenomics” is a notion that piques his interest in Web 3.0. This has to do with the supply and demand of digital assets. Former Google CEO Eric Schmidt is optimistic that Web 3 will usher in new models of content ownership and compensation. He continues, (https://www.cnbc.com/2022/04/28/ex-google-ceo-eric-schmidt-on-investing-in-cryptocurrencies-and-web3.html)

″[Web3′s] economics are interesting. The platforms are interesting and the use patterns are interesting. [It] doesn’t work yet, but it will.”

Eric Schmidt has a’small amount’ of cryptocurrency.

According to the former Google executive, he is only “beginning” to invest in cryptocurrency. He did not, however, reveal how many cryptocurrency he now owns. Schmidt remarked that the problem with today’s blockchain technology is that individuals spend the majority of their time “making sure that nobody is attacking them… they’re tremendously wasteful,” referring to Bitcoin.

Also, A handful of high-profile tech figures have recently dabbled in cryptocurrency. Lastly, The main goal has been to gain a better understanding of the technology and the economics that underpin it. Elon Musk, a software guru and entrepreneur, is one of the most vocal proponents of cryptocurrency.

Related Posts – Elon Musk, a Dogecoin supporter, has decided not to join the Twitter board of directors

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