According to Morgan Creek CEO Mark W. Yusko, the problems Ethereum faces are the same problems faced by the Internet in its infancy and provides a bright future ahead of the network.
Morgan Creek CEO Mark W Yusko expressed an optimistic view on the future of Ethereum. During a Yahoo Finance discussion panel on Wall Street's cryptic currency skepticism, Yusko discussed the theme of the Ethereum downtrend with the hosts Dan Roberts, Dion Rabouin and Rick Newman.
At the September 8th meeting, the hosts discussed the belief that the encrypted coin downslope is due to ICO scams and project developers trying to cash in their Ethereum tokens. Speaking on Skype, Yusko agreed that some ICOs were fraudulent, but said the bad actors would appear everywhere where there is a capital. The executive admitted that the prices of digital assets were "well above" their value and defined the downward trend "a correction".
Yusko has also addressed the comments of Jordan Belfort that the cryptocurrencies are a "scam" Belfort supported the fact that he was himself a "scammer". "The fact that people are looking at Belford and say" Well, he's a bad boy, he's done bad things, so I should trust him "Absolutely absurd."
Ethereum is "the www. del TrustNet "
Yusko continued to defend the importance of cryptocurrencies and blockchain technology, comparing the current situation with 1993/94 on the Internet and at that point Google existed only as a concept. According to the Morgan Creek executive, by 2024 Ethereum will give life to the "TrustNet", in the same way as the suite of Internet protocols for the creation of the World Wide Web was requested.
"Internet in 1996 has created an opportunity for us to digitize information, "said Yusko. "Then the mobile network really allowed us to start thinking about the digitalization of commerce in 2010. If you think about the Internet, the protocols themselves – TCP / IP, HTTP, SMTP – those are the things that have allowed us to have all these wonderful creations, smartphones, with which we all live, and this is what Ethereum is – the protocol that would allow us to create a TrustNet. "
According to Yusko, unlike the Internet protocol suite, where the monetary value is in the applications developed on those protocols, Ethereum captures many values, and will be very profitable. Yusko believes that Ethereum, along with other blockchain networks, will become the largest resource in the world in the next ten years.
"Five of the ten largest companies in the world today are not standard companies," said Yusko, "They are networks, and the power of the network is really what we are talking about."