Coinbase CEO Brian Armstrong Spots 10 Key Cryptocurrency Innovation Locations
Hey there! So, Coinbase boss, Brian Armstrong, dropped a bunch of ideas about the future of crypto on Twitter (gotta love a good tweet storm). Here's a lowdown on a few of 'em:
Flatcoins: Inflation's New BFF
Ever fancy a stablecoin that can keep the scourge of inflation at bay? That's roughly what Armstrong had in mind with his "flatcoins." Unlike the traditional fiat-backed stablecoins, they're backed by a diversified basket of assets or use an algorithmic approach. Services like Ampleforth and Truflation could be potential models for this concept.
On-Chain Rep and Ads: Web3 Ads with Brainpower
Move over, traditional ads! Armstrong threw a few ideas around for Web3-based advertising, where payouts are based on on-chain activities rather than views or clicks. These ads could utilize smart contracts for payout specification, allowing wallet owners to decide which ads they want to see.
As for on-chain reputation, Armstrong suggests a system that assigns scores to wallet addresses or ENS names based on on-chain activities. Lending, ratings, and fraud prevention could find applications in this system.
Democratic Fundraising and the Global Job Marketplaces: Crypto Makes it Rain
Armstrong believes that simplifying global capital formation could help unlock lots of dormant entrepreneurial energy around the world. And he's also got plans for a global job marketplace, paid in cryptocurrency, making cross-border payments a breeze for organizations and workers alike.
Privacy in Layer 2 solutions is another area of focus for Armstrong. He wants to bring private transactions to Layer 2, finding that sweet spot between transparency and privacy.
Peer-to-Peer Exchanges and In-Game Asset Ownership: Pass the Crypto Baton
Armstrong imagines a fully on-chain peer-to-peer exchange with integrated escrow and reputation management. He's also thinking about on-chain games where players can own in-game assets as NFTs.
Tokenizing Real-World Assets: As Easy as 1, 2, Blockchain
From stocks and commodities to real estate, Armstrong is considering the potential of tokenizing real-world assets on the blockchain, making them more accessible and tradeable.
Lastly, Armstrong floated the concept of "Software for Network States," tools that could help startup cities and communities manage governance, voting, taxes, and services on-chain.
So there you have it! The man's got some ideas brewing, and we'll be keeping our eyes peeled for more from him and the crypto crew. Bear markets may be rough, but as Armstrong rightly points out, "bear markets are for building."
Oh, and he's hosting a shindig called the Coinbase Ventures Summit in Malibu, California, in October. So if you've got a startup up your sleeve or are just looking to connect with like-minded folks, it might be worth a gander! 🌴🚀🚀🌴
- "In the realm of finance and investing, Brazilian Armstrong's proposal for 'flatcoins' intriguingly presents a stablecoin option that combats inflation, potentially leveraging technology through diverse assets or algorithmic approaches, similar to Ampleforth and Truflation."
- "Armstrong also delves into the future of technology-driven advertising, suggesting Web3 ads payouts based on on-chain activities, a system that could employ smart contracts for customized payouts and on-chain reputation systems for targeted ad selection."
