Brian Armstrong: Crypto Companies Could Be the Tech Giants of Tomorrow
Coinbase CEO Brian Armstrong believes that blockchain and crypto are transforming people’s lives, just as the internet did two decades ago. He states that on-chain technology is the new online, with similarities to the internet in terms of breaking down barriers, democratizing access to information, and making knowledge universally accessible.
Armstrong is optimistic about the future of crypto and its potential for re-decentralizing the web and introducing new concepts like ownership. He highlights how on-chain technology enables digital assets, broader access to financial services, and even changes how we think about identity, governance, artwork, and non-financial services.
Coinbase Beats Expectations with $674 Million in Revenue
In the company’s Q3 earnings call, Coinbase reported a total revenue of $674.15 million, surpassing analysts’ expectations. This represents a 14% increase from the same period last year. Coinbase’s Q3 revenue is also 2.67% higher than the consensus estimate.
Despite his optimism, Armstrong acknowledges that regulatory clarity in the US remains a significant hurdle for the crypto industry. He emphasizes the need for more clarity to unlock further progress in the country.
Hot Take: On-Chain Technology Poised to Transform Industries
Brian Armstrong’s perspective on on-chain technology as the new online reflects his belief in its transformative power. As blockchain and crypto continue to evolve, they have the potential to reshape industries by enabling digital ownership, expanding access to financial services, and revolutionizing concepts like identity and governance. While regulatory challenges persist, Armstrong’s positive outlook underscores the growth potential of crypto companies like Coinbase. As on-chain becomes more prevalent, it may indeed pave the way for these companies to become the tech giants of tomorrow.
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