By laying the foundations of the internet of value, cryptocurrency and blockchain will generate more wealth than Web 1 and Web 2, said CEO of Morgan Creek Capital, Mark Yusko, in an exclusive interview with Cointelegraph.
“We haven’t even gotten to the parabolic growth part of Web 3, which is going to create untold wealth”,, stated Yusko.
In his career as a hedge fund manager, Yusko profited from investing in early internet technologies. He embraced cryptocurrency in 2017 after realizing their potential to power the internet of value: a new iteration of the internet that will allow users to exchange value directly bypassing financial intermediaries.
In comparison to the previous iterations of the internet, which revolutionized the spheres of commerce and media, the”trust net”, as Yusko calls it, will generate an exponentially larger amount of wealth.
“Financial services is far bigger than information, and media, and commerce”, he pointed out.
However, Yusko is convinced that before entering a phase of parabolic growth, the crypto industry will need to overcome the opposition of traditional financial actors and possibly face another major correction.
“The incumbents really don’t want the disruptors to win, so they will fight really hard. They’ll throw up regulatory barriers, they’ll try to buy up the companies and shell of the technology”, he said.
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Ray Schuetz received a Masters Degree in computer science from The University of Texas (Austin). Ray has been working as a full-time blockchain consultant for the past 3 years. In his spare time, Ray enjoys writing for EthereumCryptocurrency.com and other crypto news publications.