I just noticed there is a transcript. Relevant pieces quoted here for convenience. It's Jared Cohen doing the first part.
on one of the business elements this book raises is about virtual currencies. at one point you talk about the real challenge being a accommodation hiding the physical location of services. if you're a business person, ceo or government trying to regulate all this, boy, does that seem tricky. it's a $2 trillion industry. add virtual currency and it only becomes more complicated. it's going to be increasingly difficult for criminals and terrorist toss operate off the grid. and to go back to the point eric was making, yes, it can be used for money laing. when criminals are using technology the room for error goes up. any mistake they make or anybody in their network, either professionally or socially has the potential to unravel the entire network.
And now Schmidt:
eric, do you see a day, a point in time where big businesses, whether google or others, decide to actually accept big coins as a currency or other forms of virtual currencies like that. big coins is a technological tour deforce. i don't know ultimately whether it will be legal. it is too early to say. what i do think is that in the spread of all of this globalization, you're going to have much more efficient money flows. in every case they will be trackable. you can track corruption.
