Summary of Eric Schmidt and Sergey Nazarov Fireside Chat | SmartCon 2022

00:00:00 - 00:40:00

Eric Schmidt and Sergey Nazarov discuss the potential for web3 to replace existing technologies. They discuss how web3 will help to create a more reliable world, and how AI will be crucial in enabling this.

• 00:00:00 Eric Schmidt discusses the attractiveness of web3, which is based on trustless, immutable, and distributed principles. He also credits the invention of tokens as a key development in making web3 more attractive to entrepreneurs.
• 00:05:00 Eric Schmidt and Sergey Nazarov discuss the future of Oracle networks, which are designed to fill the gaps left by blockchains when it comes to scalability and privacy. Oracle networks will likely become more popular in the coming decade as blockchain technology falls short in some key regards.
• 00:10:00 Eric Schmidt and Sergey Nazarov discuss the future of web3 and its potential to replace existing technologies. They discuss how web3 will help to create a more reliable world, and how AI will be crucial in enabling this.
• 00:15:00 In this fireside chat with Eric Schmidt and Sergey Nazarov, the two discuss how web 2 systems interact with web 3 systems and how web 3 systems may help to simplify the process of using digital cash. Schmidt also warns those who are looking to launch products quickly with regulators in mind that it may not be a good idea.
• 00:20:00 Eric Schmidt shares his perspective on how technology and regulation will evolve, noting that it's possible for centralized systems to become more dispersed and for entrepreneurs to create value.
• 00:25:00 Eric Schmidt and Sergey Nazarov discuss the potential for centralization in the Ethereum network, and Schmidt says that web3's success will hinge on creating efficient markets.
• 00:30:00 Eric Schmidt and Sergey Nazarov discuss the importance of oracles in the future of the web, discussing how oracles will play a role in trust services and network effects. Schmidt also mentions that oracles will be important in solving problems in a new way, and that he would like to see more companies built around oracles.
• 00:35:00 Eric Schmidt and Sergey Nazarov discuss the benefits of a recession in the United States and how it can be good for the development of web3 infrastructure.
• 00:40:00 Eric Schmidt and Sergey Nazarov discuss the current state of the tech industry, with Schmidt stressing the importance of capital markets in providing opportunities for founders. Schmidt also discusses the current geopolitics and the potential for future wars. Nazarov discusses the current state of the food industry and the importance of innovation. The two discuss the importance of balancing work with personal life, and Schmidt gives advice to upcoming entrepreneurs.