Morgan Creek Capital CEO Mark Yusko said in an exclusive interview with Cointelegraph that by laying the foundation of the Internet of Value, cryptocurrency and blockchain will generate more wealth than Web 1.0 and Web 2.0.
“We have not even reached the parabolic growth part of Web 3, which will create countless wealth,” Yusko said.
In his career as a hedge fund manager, Yusco profited from investing in early Internet technologies. After realizing the potential of cryptocurrency to power the Internet of value, he accepted cryptocurrency in 2017-a new iteration of the Internet that allows users to directly bypass financial intermediaries for value exchange.
Compared with the previous iterations of the Internet, the Internet has completely changed the business and media fields, and the “Web of Trust”-as Yusco said-will generate exponentially increased wealth.
“Financial services are far greater than information, media and business,” he pointed out.
However, Yusko firmly believes that before entering the parabolic growth phase, the crypto industry will need to overcome the opposition of traditional financial participants and may face another major adjustment.
“The incumbents really don’t want the disruptors to win, so they will fight very hard. They will set up regulatory barriers-they will try to acquire the shells of companies and technologies,” he said.