By laying the foundation for the Internet of Value, cryptocurrency and blockchain will provide more wealth than Web 1.0 and Web 2.0, Mark Yusko, CEO of Morgan Creek Capital, said in an exclusive interview with Cointelegraph.
“We haven’t even gotten to the part of growth equivalent to Web 3 that will bring in undeserved wealth,” Yusko said.
In his career as a hedge fund manager, Yusko earned money from investing in early internet technologies. He switched to cryptocurrency in 2017 after realizing its potential to create an internet of value – a new iteration of the internet that will allow users to exchange value directly and bypass financial intermediaries.
Compared to previous versions of the Internet that revolutionized commerce and the media, the “Network of Trust,” as Yosko called it, would generate exponentially more wealth.
“Financial services are much more than information, media and commerce,” he said.
However, Yusko is convinced that the cryptocurrency industry must overcome opposition from traditional financial players before it enters the parabolic growth phase and may face another major correction.
“Active players don’t really want the destroyers to win, so they will fight hard. They will create regulatory barriers – they will try to buy off companies and the technology envelope,” he said.