When Google’s director of engineering, Ray Kurzweil, started accepting audience questions at the Exponential Finance conference earlier today, the first three asks were about blockchain.
The man who in large part built his reputation based on what are widely considered accurate predictions based on historical data, talked about the power he believes cryptocurrencies have to cross borders and maybe replace national currencies.
But, he expressed skepticism that bitcoin would be that replacement. Addressing an audience of 700 senior executives, technologists and more, at the Exponential Finance event hosted by Singularity University, which he co-founded, Kurzweil explained his doubts.
While he described "assumptions" about bitcoin’s ability to scale as "quite accurate" he said that people won’t be looking at algorithms to make their spending decisions.
Instead he argued that it was the historic stability of a currency that makes it valuable, stability he said has been lacking in bitcoin.
http://www.coindesk.com/googles-director-engineering-wont-invest-bitcoin/
