Cryptocurrency “will be here for a long time” thanks to its ability to exchange value without “friction,” Nvidia’s CEO has said.
Computer hardware manufacturer NVidia’s CEO told mainstream media cryptocurrency “will be here for a long time” in a fresh interview March 29.
Speaking to CNBC as part of the network’s Mad Money segment, Jensen Huang said that currency uses would ensure Bitcoin and altcoins endured in the long term.
“The ability for the world to have a very low-friction, low-cost way of exchanging value is going to be here for a long time – Blockchain will be here for a long time,” he forecast.
The past year has seen Nvidia capitalize considerably on the Bitcoin mining trend as more and more consumers and requisite power get on board as part of the network.
Cointelegraph reported in January that 2018 could be a halcyon year for the company, its share price having already risen 100% in 2017.
Sentiment nonetheless appeared to wobble this month after competition from China caused a Wall Street analyst to revise growth forecasts down for the company. Despite this, Huang remains distinctly buoyant.
“The reason why cryptocurrency became such a popular thing on top of our GPUs is our GPUs is the world's largest installed base of distributed supercomputing," he continued.
“Blockchain requires cryptography and the ability to have a public ledger that is completely immutable, perfectly safe, distributed all over the world. Our processor serves as the perfect processor to enable this supercomputing capability to be distributed. And that's the reason why it's used.”
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