Sergey Brin — the ninth richest man in the world and one of the Google’s Co-Founder — admits that he is mining Ethereum at the 2018 Blockchain Summit.
Brin who is also the President of Alphabet — a collection of companies mainly Google that prospers strong leaders and independence — is now taking a side job with cryptocurrency, according to Michael del Castillo who reported this via his twitter account.
The Summit was hosted at Sir Richard Branson’s hotel, the Kasbah Tamadot on July 8; Brin, then, said that he is having interest on the online currency, specifically, Ethereum. With an estimated net worth of $52 billion, Brin can be one of the richest men in the crypto industry. Interestingly, even his son, Benji Wojin shared the same passion with cryptocurrency that was also mentioned by Brin.
Moreover, other personalities were also invited at the Summit to tackle their different perspectives regarding the unpredictable status of crypto in the country.
Former Guns n’ Roses drummer Matt Sorum defined blockchain technology as ‘rebellious’ and ‘very rock and roll.’ He also gave an insight on how he thinks that blockchain can help the music and showbiz industry in the future. According to him, the power of blockchain can use to defend every artists’ intellectual property rights.
“A user should be able to own content in a way that rewards the artist. When the blockchain came along, I said, this can happen. And the way it will work is through smart contracts” said Sorum.
Even Former SEC Commissioner Annette Nazareth explained that SEC took a big step with their claim that cryptos are not securities. Although, she thinks that regulators understand that blockchain is a ‘tremendous opportunity’ that they have to think about in the future.
However, Former CFTC chair Jim Newsome believes that regulators are choosing the right direction with their recent decisions.
“We are still in the early stages of this technology’s development. We’re in the first inning of a very long ball game. So we need to be careful not to rush regulators too much. Because typically when you rush regulators, they tend to get it wrong.”