Morgan Creek Digital founder Mark Yusko says that new mobile crypto wallets will spark the next big wave of digital asset adoption.
In a new discussion with Scott Melker, Yusko says that he likes to use hardware wallets, but thinks crypto custody should be more simple for the masses.
“[They’ll] pay for a $1,500 supercomputer that you hold in your hand, but now it’s the wallet and I don’t know which one, so I’m investing in as many as I can and I don’t really want to carry another device. I love Ledger. They have 15% of all crypto on their devices, but I don’t want to carry a Nano S or whatever with me. I want here.”
Yusko says that the possibility of building phones on top of crypto wallets is possible with available technologies that can secure the holding of digital coins.
“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.”
He says that he is investing in many wallets as he can, and predicts that they ultimately look like the smartphone that he uses.
“We probably won’t even call it a phone. We’ll call it a wallet and it will look like this and it will do all the things that we do except talk, we don’t talk on these. We actually text and and ignore each other but that’s coming and when it’s invisible, when I don’t care what blockchain, when I don’t care what my seed phrase is, when I don’t care where my keys are, when it’s just invisible, that’s when gazillions people and that’s why people fought so hard against Libra (Diem) and the Facebook project…”