Brian Armstrong’s Vision for the Future of Crypto
Coinbase CEO Brian Armstrong shared his vision on the next suite of applications that developers should focus on in the 2023 bear market. Here are the key points:
- Developers should focus on creating coins that resist inflation and decentralized reputation systems.
- Monetizing their work can be achieved through paying for ads that lead to meaningful engagement.
- Greater decentralization is needed for services relying on Web2, with the creation of a reputation score for crypto users.
- A system where reputable on-chain participants can register a decentralized autonomous organization (DAO) for fundraising.
- Inventing a crypto asset that preserves purchasing power by tracking inflation.
Armstrong’s proposals have received positive feedback, with several products already implementing his ideas. Some examples include Cardano NFTs as a potential use case for ads and the involvement of companies like Fairmint and Seekr.io in on-chain capital formation and Web3 job placements.
Alkimi Exchange also contributes to the crypto space by improving transparency in the advertising supply chain through its Constellation Hypergraph ledger.
Despite the success of Coinbase’s Base blockchain, it still lags behind competitor Arbitrum in terms of value. And while Coinbase may not exert control over Base, critics argue that it remains a centralized blockchain.
Hot Take
Brian Armstrong’s vision for the future of crypto focuses on key areas such as resisting inflation, decentralized reputation systems, and improved financial inclusion. These ideas have already gained traction in the industry, with various products and companies implementing them. However, challenges remain, such as the need for greater decentralization and ensuring transparency in the crypto space. Overall, Armstrong’s proposals offer exciting possibilities for the development of the crypto ecosystem.
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