Final answer:
RNA is theorized to have been the original molecule for both genetic information storage and catalytic activity, supporting the RNA World Hypothesis which suggests it formed the basis for early cellular life.
Step-by-step explanation:
Some scholars have viewed RNA as the original site of information storage in the primitive cell. One advantage of this view is that RNA can both store genetic information and can act catalytically like a(n) enzyme. The RNA World Hypothesis posits that early life forms may have used RNA for both storing genetic instructions and catalyzing chemical reactions, thus potentially resolving the 'chicken and egg' problem of whether proteins or nucleic acids came first in the evolution of cellular life.
RNA's unique ability to catalyze reactions, like self-splicing of introns or forming part of ribonucleoproteins, illustrates its capacity as an all-in-one molecule. Retroviruses, such as HIV, demonstrate the functionality of RNA as a genetic material and may hint at its role in the emergence of life. Ultimately, the transition from RNA as a singular molecular system to the more complex DNA-RNA-protein world of today is a rich field of research, with ongoing debates about how DNA took over the role of information storage due to its chemical stability.