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