According to Morgan Creek Capital CEO, crypto will produce more wealth than the internet.
In an official interview, Mark Yusko, CEO of Morgan Creek Capital, stated that cryptocurrency and blockchain would produce more wealth than Web 1.0 and Web 2.0 by establishing the foundations of the Internet of Value.
“We haven’t even gotten to the point of Web 3 when the parabolic rise is going to produce unimaginable wealth,” Yusko said.
Yusko made money investing in early internet technologies throughout his work as a hedge fund manager. In 2017, he adopted cryptocurrencies after recognizing its potential to power the Internet of Value, a future version of the internet that would allow users to directly trade value without the necessity of financial middlemen.
The “trust net,” as Yusko dubbed it, would produce an exponentially greater amount of wealth than previous incarnations of the internet, which transformed the realms of business and media.
He stated, “Information, communication, and commerce are all dwarfed by financial services.”
Yusko, on the other hand, believes that before the crypto sector can enter a phase of parabolic development, it must overcome the hostility of traditional financial actors and perhaps experience another severe downturn.
“The incumbents do not want the disruptors to succeed, therefore they will fight tooth and nail.” They’ll put up legislative obstacles and try to take up firms and the technology’s shell,” he added.