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Skybridge capital founder anthony scaramucci says algorand (algo) is going to challenge the major competitors in the cryptography industry just like Google did in the early days of the Internet.
In a new interview with digital asset news, scaramucci says that he is investing heavily in algo because he thinks it will replace many of his competitors.
"I've got a quarter-billion dollars in Algorand. I believe Algorand will be Google.
You and I, when we were young, we connected over the Internet using Altavista. We were using lycos, America online – even prodigies, if you remember. And then in 1998, this company was called Google and people said, "Why do I need this? I have all these other things to access the Internet," and then people say, "Well, you know it's faster. The machine learning, the algorithms are more widespread. It's going to lead to better outcomes," and now Google has overtaken everyone, and I think that's going to happen with Algorand."
Algorand is a blockchain that makes it possible for developers to build decentralized applications (dapps) for financial services. The smart contract platform is an ethereum (eth) challenger that aims to accelerate transactions at a lower cost.
“i think ultimately when the big enterprises get on to the tokenization side of the market and they start working in the world of defi (decentralized finance), they’ll need something that’s scalable like algorand, secure like algorand and ultimately decentralized, so they won’t have to worry about capricious inflation-deflation of what it is that they’re using as a form of exchange of value.
I think that's the future. It will simply require more and more people to thoroughly review due diligence and make the decision to choose it."
in an interview on cnbc’s halftime report in december, scaramucci that algorand can potentially flip ethereum, the leading smart contract platform today.
at time of writing, is trading at $1.38.
