The founder, chief investment officer and managing director of Morgan Creek Capital Management, Mark W. Yusko, told his opinion about the future relevance of Ethereum during a discussion with Yahoo Finance’s Dan Roberts, Dion Rabouin and Rick Newman on September 7, 2018.
Yusko defended Ethereum saying that it has a bright future ahead when they were debating the topic of Ether’s dramatic market drop, fraudulent ICOs and the recent cashing out of Ether by legitimate ERC-20 token projects.
Yusko further expounded on his views about comparing the current situation of the internet to its early days:
“People might say its six years from now well, it’s like 1993 or 1994 internet when Google was just being thought off, and nobody thought it was important”.
He mentioned that building the TrustNet is the next step for Ethereum and that it is already designed to do so. He argued that the Ethereum’s protocol concerning creating the TrustNet is very much similar to the internet protocols TCP/IP, SMTP and HTTP.
He further added that ETH is vital as Ethereum’s protocols are laden with value. It’s very probable for ETH to be profitable for investors in the future.
There is one fundamental difference between Ethereum and Bitcoin, according to his point-of-view. To him, Bitcoin is an application that runs on the blockchain whereas Ethereum is like the World Wide Web of the TrustNet.
Yusko is also the President and Chairman of the Investment Committee of the Hesburgh-Yusko Scholars Foundation at the University of Notre Dame.
He seemed to maintain his optimistic approach towards Ethereum and Bitcoin when Dion Rabouin made mention of the “Wolf of Wall Street” author, Jordan Ross Belfort’s, negative views on the cryptocurrency space.
He defended cryptocurrencies by remarking Jordan Ross Belfort was talking about ICOs, neither Bitcoin (BTC) nor Ethereum (ETH). Yusko also added that it’s true for some of the utility tokens to be a scam and that the corrupt will show up anywhere where there is capital.