Crypto News – Coinbase CEO Brian Armstrong shared his top ten ideas for the future of cryptocurrencies and expressed optimism that creators might capitalize on the current weak market to further their projects.
Top 10 Crypto Ideas by Coinbase CEO Brian Armstrong
In a presentation and business blog post published on August 30, the CEO of Coinbase discussed his predictions for the future of cryptocurrencies and the ideas that, in his opinion, have the best chance of succeeding in the digital asset sector.
I decided to share my 10 top ideas with the hope that someone would go out and build them. Ideas are cheap.
Armstrong
The Ideas of Brian Armstrong
Armstrong’s most recent public appearance might be an effort to generate interest in Coinbase’s next Coinbase Ventures Builder Summit, which will take place in California in October. Some of the 10 ideas put forward by Armstrong in this direction are as follows.
Flatcoin
A flatcoin is a decentralized stablecoin that follows inflation to maintain purchasing power. It might be backed by a basket of assets or utilize an algorithmic technique. This was one of the first ideas he covered. Inflation and confiscation affect fiat-backed stablecoins exactly like fiat money, and he claimed that this is why people are hesitant to spend Bitcoin.
On-Chain Reputation
On-chain reputation was an additional idea. Based on on-chain behavior, it is a system that gives reputation scores to wallet addresses or ENS names. It would be utilized for financing, ratings, and fraud detection and be comparable to Google’s PageRank.
On-Chain Ads
On-chain advertisements were also mentioned by Armstrong. In contrast to Web2 ads, which are view or click-based, these are the Web3 versions of advertisements that would pay out based on on-chain actions. Smart contracts that can specify payouts and wallets that can select which advertisements to display might be available.
On-Chain Capital Formation
Armstrong described the on-chain capital formation as a strategy that democratizes fundraising and enables the following generation of ICOs and companies to raise funds on-chain in a legal and reliable manner.
Democratizing fundraising could unlock tremendous latent entrepreneurial energy across the world.
Armstrong
Privacy for Layer 2
Armstrong’s sixth concept, privacy for layer 2, moves private transactions from exclusively being found on public blockchains to L2.
There are many cases where transparency is a feature, but people do not want most transactions in the economy to be public,
Armstrong
Software for Network States
Software for Network States, which are tools to assist new cities and communities in handling governance, voting, taxation, and services on-chain, was Armstrong’s final invention.
In five years, many entrepreneurs will be looking back and wishing they had started a crypto company in 2023. Bear markets are for building.
Armstrong
Leave a comment