Mark Yusko, the founder and CEO of Morgan Creek Capital, advises pension funds, endowments and high net-worth individuals. Yusko is a long-time Bitcoin promoter and a financial markets innovator.
Yusko has been quoted as saying that cryptocurrency and blockchain will create more wealth even than the internet, at least up until the expected growth of Web3. He expects much of this wealth creation to come from financial services, which exceeds the combined values of information, media and commerce markets.
So, with all the historical focus on the investment potential and use cases of cryptocurrencies, it was a little surprising when Yusko identified the key role he expects crypto wallets to play in the mass adoption of cryptocurrencies within the global economy.
Concerns of trust, susceptibility to fraud and the evolving balance of government oversight currently impede global acceptance of cryptocurrencies. As these concerns are resolved, however, then the need for more user-friendly crypto wallets will gain vital importance, according to Yusko.
Yusko likes Ledger’s hardware wallet but is concerned that it may be too much bother to use for many crypto adopters.
In contrast, AlphaWallet now offers “hardware=grade” cold wallet performance in a cellphone app. This is accomplished using “secure enclave” technology. Yusko freely admits he does not understand the technology, but believes it’s using the right approach to a secure Web3 level crypto wallet.
TheCoinRepublic .com posted a recent interview between Yusko and Scott Melker, host of The Wolf Of All Streets podcast. In that interview Yusko described his vision for simplifying crypto wallets by pairing them with smartphones:
A combination of cellphones with cryptocurrency wallets, according to Yusko, would appeal to the ordinary user far more and free crypto enthusiasts from having to worry about technical details like seed phrases and private keys. He went on to add that by making crypto wallets undetectable and frictionless, gazillions of people will start using it.
Mark Yusko, in TheCoinRepublic.com
Related Content: Cryptocurrency Wallet Primer
Please see Crypto Wallets 101
Original article can be found at;//www.thecoinrepublic.com/2022/08/31/morgan-creek-capital-ceo-very-bullish-on-crypto-wallets-heres-how/
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