At a blockchain summit hosted by Sir Richard Branson on July 8, Sergey Brin, a billionaire tech magnate who co-founded Google alongside Larry Page revealed that he’s mining Ethereum with his son.
“A year or two ago, my son insisted that we needed to get a gaming PC,” said Brin. “I told him, ‘OK if we get a gaming PC, we have to mine cryptocurrency. So we set up an Ethereum miner on there, and we’ve made a few pennies, a few dollars since,”
Brin, who currently serves as the head of Google’s parent company, Alphabet, is the latest figure to express his gusto for cryptocurrencies. However, he admitted that his company unexploited an opportunity to be an early adopter in “mind-boggling” blockchain tech.
“We probably already failed to be on the bleeding edge, I’ll be honest,” Brin said, adding that perhaps Google X, the Google research division could get involved.
Brin Lauds Zero-knowledge proofs
The tech Billionaire also praised the potential of zero-knowledge proofs. Zero-knowledge proofs can be used to show that the transaction value is true without revealing the transaction information to the nodes. This has shaped the backbone to the rise of privacy-oriented digital currencies, such as ZCash, which enables users to join a public blockchain ledger while keeping the specifics of their transaction anonymous.
In addition to sharing his story of Ethereum mining, Brin remains optimistic about the potential of the blockchain tech that is increasingly being adopted across all genres of businesses. “It’s mind-boggling,” Brin said adding that “I see the future as taking these … research-y, out-there ideas and making them real,”
Also speaking at the conference was Former SEC Commissioner Annette Nazareth Who highlighted that regulators understand that blockchain technology is a ‘tremendous opportunity.’ Former SEC commissioner also noted that it’s a big step that SEC declared that Ethereum is not a security under U.S. securities law.