In a recent interview, former White House Director of Communications Anthony Scaramucci, who is the founder and managing partner of global alternative investment firm SkyBridge Capital (“SkyBridge”), shared his latest thoughts about Algorand ($ALGO).
SkyBridge is “a global alternative investments firm specializing in multi-strategy commingled fund of hedge funds products, custom separate account portfolios and hedge fund advisory solutions to address the needs of a wide range of market participants ranging from individual accredited investors to large institutions.”
As Binance Research explained in a research report published in June 2019, Algorand is “a permissionless, pure proof of stake blockchain that ensures full participation, protection and speed within a truly decentralized network.”
Algorand’s aim is “to remove technical barriers that have undermined mainstream blockchain adoption: decentralization, scale, and security.”
Algorand was built by a team of “internationally recognized researchers, mathematicians, cryptographers, and economists along with proven business leaders from global technology companies.” The executive team consists of Silvio Micali (Founder), Steve Kokinos (CEO), and W. Sean Ford (COO).
According to a report published by The Daily Hodl earlier today, in an interview with Digital Asset News that was released on YouTube yesterday (January 15), Scaramucci explained why he has so far invested $250 million in Algorand:
I’ve got a quarter-billion dollars in Algorand right now. I think Algorand will be the Google...
“You and I, when we were youngsters, we were logging onto the internet using AltaVista. We were using Lycos, America Online – even Prodigy, if you can remember that. Then lo and behold in 1998, this company came along called Google and people were like, ‘Why the hell do I need that? I’ve got all of these other instruments to access the internet,’ and then people say, ‘Well, you know it’s faster. It has machine learning, the algorithms are more widespread. It’s going to lead to better outcomes,’ and lo and behold, Google trumped everybody, and I think that’s going to happen with Algorand...
“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...
“Algorand to me is the future. It’s just going to require more and more people doing deep dive due diligence and making the decision to choose it.“
Last month, in an interview with CNBC’s Halftime Report, Scaramucci talked about why his firm had launched a $100 million fund to invest in Algorand:
“The Skybridge research department thinks that Algorand actually has the opportunity to potentially flip Ethereum: it’s faster, [has] lower transaction charges. It has a net negative carbon footprint.“
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