Marc Andreessen – who jointly founded the venture capital establishment Andreessen Horowitz – claimed that cryptocurrency could serve as a viable solution to numerous major Internet problems. 

Reported by The Wall Street Journal on September 1, Andreessen delivered his remarks during a private conference, hosted by Andreessen Horowitz, along with numerous members of the US Treasury Department and other financial regulators.

According to the report, Andreessen mentioned the widely known comparison, between digital coins and the Internet. He claimed that the internet was originally built as a system to share data, specifically used for computer scientists, and has gradually been developed into an information and commerce hub across the globe. 

Much as the evolution process the internet has undergone, Andreessen claimed that cryptocurrencies could develop to a point of offering a way of solving a number of the most troublesome obstacles the internet is facing, nominally privacy. However, such prospect could only occur should the US regulators come up with a regulatory scheme that is not too stringent. 

Christopher Giancarlo – former chairman of the Commodity Futures Trading Commission – believed that crypto regulation is not a matter to mess around with. 

“Some of the things you learned from your older VCs, this won’t transfer.”

Should crypto considered securities, in terms of regulations, investors such as Andreessen Horowitz would have a hard time with compliance-related problems, or loss of funds, per The Wall Street Journal.