By laying the foundations of the Internet of Value, cryptocurrency and blockchain will generate more wealth than Web 1.0 and Web 2.0, mentioned Mark Yusko, CEO of Morgan Creek Capital, in an unique interview with Cointelegraph.
“We haven’t even gotten to the parabolic growth part of Web 3, which is going to create untold wealth,” said Yusko.
In his profession as a hedge fund supervisor, Yusko profited from investing in early web applied sciences. He embraced cryptocurrency in 2017 after realizing their potential to energy the Internet of Value — a brand new iteration of the web that will enable customers to change worth instantly bypassing monetary intermediaries.
In comparability with the earlier iterations of the web, which revolutionized the spheres of commerce and media, the “trust net” — as Yusko referred to as it — will generate an exponentially bigger quantity of wealth.
“Financial services is far bigger than information and media and commerce,” he identified.
However, Yusko is satisfied that earlier than coming into a part of parabolic progress, the crypto business will want to beat the opposition of conventional monetary actors and probably face one other main 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 mentioned.