Mark Yusko, the Founder, CEO and Chief Investment Officer of Morgan Creek Capital Management, says that more modern and user-friendly crypto wallets will lead to a massive surge in adoption.
Yusko, who is also the Managing Partner of Morgan Creek Digital, said during a conversation with Scott Melker that the crypto industry needed to work towards simplifying crypto wallets in order to gain mass appeal. Yusko, who admitted to being a fan of hardware wallets, said many retail investors were being paralyzed by the choices offered by different crypto wallets.
He noted several good options currently on the market, such as Ledger, but characterized mass crypto adoption as requiring a more simplified process.
Yusko speculated that a company could work to build phone services on top of a crypto wallet, rather than the traditional method of doing it the other way around.
As reported by The Daily Hodl, he said:
“I just learned this the other day. There’s this thing called an ‘Enclave’ that IOS could open up and you could actually make it secure so you could hold digital assets without risk of crossing the air gap or something, again technology that I don’t really understand…
“IOS doesn’t want to do it. Samsung has, that’s why they still have wallets there or someone’s going to go the other way. They’re going to start with the wallet and they’re going to make all of the phone functionality on top of that. I think that’s actually the winner and maybe the Solana phone is the thing.“
Yusko also mentioned that a merging of smartphones and crypto wallets would provide much greater appeal to the average user, making it so crypto supporters would not have to care about complexities such as seed phrases and private keys. He continued, saying that making crypto wallets invisible and seamless would lead to “gazillions” of people adopting crypto.
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