Founder of SkyBridge Capital Anthony ScaramucciHe thinks that Algorand (ALGO) will challenge leading competitors in the crypto industry, just as Google did in the early days of the internet.
Speaking in a new interview with Digital Asset News, Scaramucci stated that he has invested heavily in ALGO as he thinks it will replace many of its competitors.
“I currently have a quarter billion dollar investment in Algorand. according to me Algorand (ALGO)will be the Google of crypto.
You and I used to go online using AltaVista when we were younger. We used places like Lycos, America Online, even Prodigy. Well, you’ll remember that in 1998, a company called Google came into existence and people were quick to criticize and say, ‘Why do I need this? He used words such as ‘I have all the means to access the Internet’. Then you know that Google is much faster, it has machine learning, its algorithms are more common, etc. Such additional functions have led to better results over time, and Google has surpassed all other competitors. I think he will achieve that in Algorand.”
Algorand is a proof-of-stake blockchain that enables developers to build decentralized applications (dApps) for financial services. The smart contract platform is also known as an Ethereum (ETH) competitor blockchain that aims to accelerate transaction speed at a lower cost.
“I think eventually when big companies move to the tokenization side of the market and start working in the world of DeFi (decentralized finance), they will need something scalable like Algorand, secure like Algorand and ultimately decentralized. They won’t have to worry about the capricious inflation-deflation of what they use as a form of value exchange.
Algorand will come for me. It’s just that more and more people will need to do in-depth due diligence and make the decision to choose it.”
Speaking in an interview with CNBC’s Halftime Report in December, Scaramucci stated that Algorand could potentially replace Ethereum, today’s leading smart contract platform.
According to CoinMarketCap data ALGO price currently $1.40.
https://www.youtube.com/watch?v=2Q4U4s1101g
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