SkyBridge Capital co-founder, Anthony Scaramucci says Algorand (ALGO) will challenge the leading competitors in the crypto industry, just like Google in the early days of the Internet. In a new interview with Digital Asset News, Scaramucci says he is investing heavily in ALGO since he thinks it will replace many of its competitors.
I currently have a quarter of a billion dollars in Algorand. I think the model will be Google.
We used to log on to the Internet using AltaVista when we were young. We used Lycos, America Online – even Prodigy, if you remember. Then in 1998, the company called Google, and people said, “Why do I need it? I have all these other tools for Internet access,” and then people said: “Well, you know it’s faster. It has machine learning, the algorithms are wider.” It will lead to better results, and you see, Google has beaten everyone, and I think that will happen with Algorand.
Algorand is a blockchain that enables developers to build decentralized applications (dApps) for financial services. The Smart Contract Platform is an Ethereum Challenger that aims to speed up transaction at a lower cost.
“I think eventually when large companies move to market tokens and start working in the world of DeFi (decentralized finance), they will need something scalable, secure like Algorand, and ultimately decentralized. You do not have to worry about inflation and the horrific inflation of what they use as a kind of exchange of value.
Algorand is the future for me. “It just requires more and more people to take a closer look at diving and decide which one to choose.”
In an interview with CNBC in December, Scaramucci said that Algorand could potentially change Ethereum, today’s leading smart contract platform.
At the time of writing this article by CoinMarketSIG , ALGO is trading at $1.38.