Google Founder Has a Lot of Optimism for Cryptocurrency

By Kapil Gauhar

In an investor letter, Sergey Brin, Google’s founder, had a lot of wisdom as well as optimism to share, about the matters in the cryptocurrency field.

Invoking the opening lines of ‘A Tale of Two Cities’ by Charles Dickens, Brin said that the evergreen lines were as relevant today as they were years ago.

Discussing quantum computing, the Google founder that quantum computers can solve a particular class of problems exponentially faster. Meshing cryptocurrencies into the discussion, Brin said –

“There are several factors at play in this boom of computing. First, of course, is the steady hum of Moore’s Law, although some of the traditional measures such as transistor counts, density, and clock frequencies have slowed. The second factor is greater demand, stemming from advanced graphics in gaming and, surprisingly, from the GPU-friendly proof-of-work algorithms found in some of today’s leading cryptocurrencies, such as Ethereum.”

While the letter doesn’t discuss anything about cryptocurrencies, anywhere else, Brin’s interest for cryptocurrencies, particularly Ethereum is not new. In 2018, as Google was clamping down on crypto-related advertisements, Brin made news saying that he was mining Ethereum with his 10-year-old son.

The declaration, nobody saw coming, was made at an ongoing Blockchain summit in Morroco, where Brin was a panel member. However, it wasn’t said by him directly, yet the moderator described it as ‘side hustle’ of Brin. As indicated by Crypto-News India, it was misreported by some media portals.

At the same time, he had added that he was a massive proponent of Proof of Work as it offers evidence of the work done for gaining the reward. “It is mind-boggling that something like cryptography, even exists,” he said.

Several other internet firms, like Facebook, Twitter, Medium, etc., following Google’s ban, have issued similar bans related to advertising Initial Coin Offerings (ICO).