Ethereum instead of Bitcoin, says Marc Andreessen

Ethereum instead of Bitcoin, says Marc Andreessen

Marc Andreessen-founding partner of the technology-oriented VC giant Andreessen Horowitz (A16Z)-contrary to his forecast from 2014, is now more optimistic at Ethereum and Web 3 than at Bitcoin.

In an interview published on Wednesday, the risk capital advisor discussed the future of the introduction and regulation of crypto as a money in addition to the role of Bitcoin.

crypto, not Bitcoin

According to Andreessen, crypto and web3 represent the other half of the Internet "and contain all functions that people have so far wanted from the Internet. This includes the ability to do business worldwide at a financial level of trust in the form of blockchain technology.

With the help of this level of trust, a variety of financial assets can be presented: money, property claims, house titles, autititis, insurance contracts, loans, internet art and more.

"You can build all the skills on the non-trustworthy Internet that you would need for a full economy," said Andreessen explained "This is a huge idea - the potential is extremely high."

Such ideas are not completely new, come from the entrepreneur. In a Washington Post article published in 2014, he said predicted A new generation of the Internet with far-reaching applications that arise on a platform of the "distributed trust". At that time he thought that this specific platform would be Bitcoin-but now he believes that the Premiere Network "has stalled" and "does not develop further".

"If I would write this thing today, I would either say Ethereum instead of Bitcoin, or I would simply say crypto or web3 instead of Bitcoin," he said.

While Bitcoin is the greatest cryptocurrency after market capitalization, Ethereum is currently the most active . It also has more active developers than Bitcoin, what Bitmex Research loans for its more flexible programming language and welcome culture for other applications than just money.

In the State of Crypto Report 2022 from A16Z, the company sketched How certain web-3 platforms with these old web-2 gigants like Facebook reward. In particular, the document contained no mention of the word "Bitcoin".

Although it is unimpressed by the number of functions of Bitcoin, Andreessen believes that Bitcoin can help as a money form to increase economic freedom around the world. In contrast to some criticism he recognizes that money can accept different forms as long as it is a tool that is used for trade.

to forbid bitcoin, he added, was probably impossible. "The source code for this is available for free," he said. "When a government prohibits Bitcoin, it literally brings itself to a position in which it prohibits mathematics."

critics of A16Z

at the end of 2021 the Twitter co-founder and Bitcoin supporter Jack Dorsey Andreessen made himself an enemy, who blocked Dorsey on Twitter after he was criticized for secretly owning the Web3 ecosystem. Dorsey even mocked web3 and his relatives VCS by starting his own decentralized identity application on Bitcoin called "Web 5".

A16Z is one of the largest risk capital companies in the crypto area and places billions in token purchases-such as Solana -and other forms of Style = "font-Weight: 400"> Web3 technology . At the beginning of this week, the crypto community expressed its concern about the VC giant-the 4 % of which has uniswappernance token from, uni- exercised its power block.

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