• Marc Andreessen, founding partner of the tech-focused VC giant Andreessen Horowitz (a16z), believes that Ethereum is now more bullish on Ethereum and Web 3 than he is on Bitcoin.
• Crypto and Web3 represent „the other half of the internet,“ containing all of the functions people wanted the internet to have until now.
• Andreessen predicted a new generation of the internet with wide-ranging applications forming on a platform of „distributed trust“ in 2014.
Marc Andreessen’s View On Cryptocurrencies
Marc Andreessen, founding partner of the tech-focused VC giant Andreessen Horowitz (a16z) has shifted his view from believing Bitcoin would be the second coming of the internet to seeing Ethereum as a foundation for a decentralized web. During an interview published by ReasonTV, he discussed his outlook for crypto adoption and regulation; as well as Bitcoin’s role in money.
Crypto & Web3: The Other Half Of The Internet
Andreessen explains how crypto and Web3 represent “the other half of the internet”, containing all features people desired it to have until now; such as financial trust layers which enable businesses to transact across borders. He believes this can open up opportunities for activities such as representing money, ownership claims, title deeds, assurance contracts, loans and even art pieces over the untrusted internet – leading to potentials beyond imagination.
In 2014, Marc wrote an article for The Washington Post discussing his expectations for a new era of Internet based on distributed trust; similar to what we are currently seeing with blockchain technology today.
Regulations & Adoption
On regulations, he outlines that governments will be looking at cryptocurrency regulations with caution due to its potential implications for monetary policies and taxation. In terms of adoption however, he is more optimistic about its future prospects given its already growing popularity amongst millennials who are increasingly making use of digital services such as Venmo or Paypal.
Ultimately, it appears that Marc sees great potential in cryptocurrencies especially with regards to their ability to form part of an entirely digital economy which could potentially revolutionize our current system.