1 billion people to be a part of crypto ecosystem: Coinbase CEO
In the next five years, cryptocurrency ecosystem will definitely grow, assures Brian Armstrong, the CEO of cryptocurrency exchange Coinbase. In a recent interview he predicted that the number of people in the crypto-verse will increase from current 40 million to 1 billion in the next five years.
In the interview with TechCrunch, Armstrong believes that the total number of digital assets will grow substantially. In turn, it will help in the growth to commercial organizations to develop their own digital currencies in future. He further stated that as an alternative investment system, the digital currencies will function together with equity.
Armstrong explained: “It makes sense that any company out there who has a cap table should have their own token. Every open source project, every charity, potentially every fund or these new types of decentralized organizations [and] apps, they’re all going to have their own tokens.”
“We want to be the bridge all over the world where people come and they take fiat currency and they can get it into these different cryptocurrencies,” he added.
He addressed the issue of regulation mentioning it to be one of the crucial factors to make his vision a reality. He called it a ‘big open question’ and notes that it is to be seen whether the majority of tokens to be recognized as securities.
He added that Coinbase will feel a “substantial subset of these tokens will be securities”. He said, “Our approach has always been to be the most trusted [exchange] and the easiest to use. So we want to be the legal compliant place where you can start to trade these tokens that are classified as securities.”
“Web 1.0 was about publishing information, web 2.0 was about interaction and web 3.0 is going to be about value transfer on the internet because now the web has this native currency and so applications can be built that instantly tap into this global economy on the internet,” Armstrong added.
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