Nvidia CEO: Cryptocurrency And Blockchain Is Here To Stay
Jensen Huang, CEO of one of the largest GPU Manufacturing firm has once again sounded his believe for cryptocurrency and the blockchain technology.
In an interview with CNBC on March 29, Jensen Huang stated that the widespread use of cryptocurrencies would ensure the endurance of Bitcoin and altcoins in the long term.
“Cryptocurrency will be here. 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,”
While cryptocurrency has proven to be a good thing for some, it has turned out to be a nightmare for gamers around the world, as the prices of GPU skyrocketed over an increased demand by cryptocurrency miners who are willing to pay more for the cards.
Even though Gamers are affected, it is all good business for Nvidia which has benefited greatly from the cryptocurrency mining trend. Mr Huang noted that the company has been having a hard time in keeping up with the demand for its graphic cards.
“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 super-computing,” 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 super-computing capability to be distributed. And that’s the reason why it’s used.”
AMD has been one of the many companies responding to the increased demand for GPUs, and while the company benefits considerably from the mining craze it gives a more preference to gamers because according to them the volatility of cryptocurrencies could have a “significant” impact on its chip-making business in the long run.
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