Value in Bitcoin Technology
Executive Chairman of Google, Eric Schmidt, spoke about bitcoin technology at the computer history museum. Schmidt had some choice words to say about the digital currency. The executive chairman said:
“Bitcoin is a remarkable crypto-graphic achievement and the ability to create something which is not ‘duplicable’ in the digital world has enormous value. It’s very hard to do and it’s incredibly useful for many many computer applications. The Bitcoin architecture, literally the ability to having these ledgers that can’t be replicated is an amazing advancement. A lot of businesses will be built on top of that.”
The Google representative recognizes bitcoin’s value and importance to further advance, and even enhance technology and life.
Schmidt and Director of Ideas at Google, Jared Cohen, recognize the importance of modern-day technology. The two Google executives have co-authored a book titled The New Digital Age, and believe bitcoin is here to stay. At SXSW Interactive, Cohen told a live audience:
“I think it’s very obvious to all of us that crypto-currencies are inevitable.”
What is Google’s Stance on Bitcoin?
Though it is apparent that Google is paying more attention to bitcoin, the question remains; do they intend on jumping on the digital currency bandwagon? Apple has made it clear through their actions that they want no part in bitcoin. However, Google has yet to give a definitive answer.
In any case, more Google representatives are coming out to speak highly of bitcoin technology. Executives such as Schmidt and Cohen have expressed interest in bitcoin, and may very well find themselves and the entire Google company to incorporate it into their everyday business.
Earlier this year, Google representatives were sent an email asking what their attitude towards bitcoin was by Coinlist.me developer Jarar Malik. Google Vice President Vic Gundotra replied to the email saying,
“We are paying attention to the issue.”
As time moves forward, Google has been doing more than just paying attention, as they loud bitcoin for its technological appeal. Though it is still uncertain as to what Google’s ambitions are towards bitcoin, one thing is for sure. If Google does utilize the digital currency, bitcoin and Google will become even bigger and better.