Home / Crypto News / Ethereum (ETH) has a bright future ahead, according to CEO of Morgan Creek Capital

Ethereum (ETH) has a bright future ahead, according to CEO of Morgan Creek Capital

Ethereum (ETH) has a bright future ahead, according to CEO of Morgan Creek Capital

Recently, Dion Rabouin spoke from the Yahoo Finance website with his colleagues Dan Roberts and Rick Newman. Skype also powered Mark Yusko, the CEO of Morgan Creek Capital Management. It was also about the fall in prices that Ethereum (ETH) has experienced lately.

Dan Roberts explained this by the fact that many of the Initial Coin Offerings (ICOs) were a scam. Even those Initial Coin Offerings who had been honest would soon have their Ethereum paid off.

Mark Yusko was also asked if this was bad news for the Ethereum Blockchain. As a comparison, Yusko argued that the Internet opened up entirely new opportunities in 1996 and later enabled the digitization of trade. The next step is to build the “Trustnet” (“Internet of Trust”). Ethereum offers a protocol that has been created precisely for this purpose. The Trustnet is expected to be operational by 2024, Yusko said.

Next he explained:

“People may say that this is six years in the future. Well, that's like the internet in 1993 and 1994 when you first thought of Google, but nobody thought it was very important. “

In addition, Yusko also talked about the Internet protocols such as TCP / IP, HTTP and SMTP. These protocols have made it possible to develop smartphones and other technologies that are indispensable today. Similar to these protocols at the time, Ethereum will enable the Trustnet to be built in the future. However, there is a special difference between the Internet and the Trustnet, Yusko said. The protocol developers of the Internet, such as Tim Berners-Lee (the inventor of HTML), have not become rich people. Rather, application developers like Zuckerberg would have made big money. Ethereum makes it possible to reverse this mechanism for the future, Yusko said.

Afterwards he stated that protocols are worth more. Ethereum will become very important and profitable in the future. Also, in his opinion, there is a significant difference between Bitcoin and Ethereum. Bitcoin is an application on the Blockchain, the most powerful supercomputer and the safest network in the world. Ethereum, on the other hand, is the Trustnet's “World Wide Web,” Yusko said.

Rabouin then addressed a statement from Jordan Belfort. Belfort is also known as the “Wolf of Wall Street” and claimed Bitcoin was “a scam.”

Yusko replied:

“The problem is that he was talking about Initial Coin Offerings (ICOs), not Bitcoin or Ethereum. He has commented on utility tokens and some of the utility tokens were a scam. Wherever there is money, fraudsters also find themselves. The fact that people say he was a cheater after all (…) and that's why you should trust him is completely illogical. “

Ethereum (ETH) has a bright future ahead, according to CEO of Morgan Creek Capital

Source: Yahoo Finance, Pixabay

Author: Peter Joost – Source Post: https://www.kryptovergleich.org/ethereum-eth-its-a-large-future-bevor-laut-ceo-by-morgan-creek-capital/

Disclaimer: CoinNewsDesk.com is a crypto news portal, financial discussion forum, and content curator / aggregator. Articles on Coin News Desk are provided for entertainment and information purposes only. We are not an investment advisor and do not provide financial advice.

We can not review all articles posted on CoinNewsDesk.com. Please independently research and verify any information here before relying on it as fact. It's also important to do proper due diligence and analysis, including consulting a professional financial advisor. No content on Coin News Desk makes any recommendation to enter into any type of investment or engage in any investment strategy on this website.

About Coin News Desk Team