Here to Stay: Blockchain, Crypto to Shape Business Future, Nvidia Boss Says

Here to Stay: Blockchain, Crypto to Shape Business Future, Nvidia Boss Says

 Here to Stay: Blockchain, Crypto to Shape Business Future, Nvidia Boss Says Here to Stay: Blockchain, Crypto to Shape Business Future, Nvidia Boss Says

Blockchain and cryptocurrencies will play an important part in shaping the future of business, and these technologies are not going anywhere, according to Jensen Huang, founder and CEO of chipmaking giant Nvidia.

Huang told “Mad Money” host Jim Cramer on CNBC:

“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.”

“Blockchain’s going to be here for a long time and it’s going to be a fundamentally new form of computing. I expect blockchain, I expect cryptocurrency to be an important driver for GPUs.”

Nvidia is also placing high hopes on the popularity of cryptocurrencies to drive sales of its high-powered graphics processing units (GPUs).

According to Huang, Nvidia’s processors are the “perfect” tool for mining digital coins like . He noted:

“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.”

Shifting crypto strategy

Huang said in November that his company was overhauling its strategy to adapt to cryptocurrencies after revenues attributable to the crypto space slumped to $70 million in the third quarter from $150 million in the previous quarter.

“The longer-term way to think about that is crypto is small for us but not zero. And I believe that crypto will be around for some time, kind of like today,” he said then while remaining confident that his company maintains its dominance in the GPU computing space.

Cryptocurrency acceptance growing

In February this year, Huang said the world had started to accept that cryptocurrencies would be a mainstay of life.

“It’s based on blockchain, and it’s very secure and very low overhead. I think there’s clearly real utility. It’s a real phenomenon, and so everyone is coming to terms with it.”

This article appeared first on Cryptovest

Disclaimer:Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

(Why?)

Published at Mon, 02 Apr 2018 09:31:25 +0000

Reply

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.