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Coinbase Chief Executive explains what is needed for Crypto to achieve mainstream adoption
Earlier this week, Brian Armstrong, Coinbase's Co-founder and CEO, hosted a Ask Me Anything (YouTube) session on YouTube. This article looks at some of the main highlights: t
What is needed for Crypto Delivering Mainstream Adoption?
"I think there are three things in my mind. There is volatility first. A second skill is second. A third is usefulness. T
If crypto swings wildly across the place, it will be harder to use as a real exchange medium. And stable stables help with that. The other thing that is going to help with that is more and more real materials in the real world that happen so that these crazy bubbles are going up and down and & # 39 all speculation in crypto are weakened if we drive the utility stage.
So, fortunately, there are now 5-10 teams that have funded their good working on all sorts of solutions from tier 2 solutions like Lightning Network to next-gen protocols, and so many will t These come out and continue to grow in the next 6-12 months. After we did that, I thought we needed crypto, not only, did you know, 5-10 transactions per second, but about 500-5000 per second as PayPal or Visa levels. That would enable us to get an app with 100 million people using crypto.
There are still many challenges there. You can imagine in a lot of these apps that are out there … It's still too complicated to go there, login capability … It should work like WeChat or something like when you're going to the app, already know who you are and your payment method has already been attached and with one tap, then you can complete an action or complete a payment … "
Why does Coinbase Pro provide more trading features yet relatively basic like average access and P&L?
"Well, that's a great point. P&L is on the map. That's something we've been trying to do there for a long time. You know, some of these are as an average site record, if you all want to see it, we'd like to hear it. "
What are your ideas on the future of mining and the testing of crypto work?
"Test-of-work is still the most trusted thing, which stood a test of time. That was like a great device in the original Satoshi white paper that started this entire revolution. I don't think that's disappearing anytime soon, especially in Bitcoin, but many of the next protocols are experimenting with Test Test, and you know, some benefits there – energy use or viability – so hopefully, as an industry, we can continue to innovate. "
Who are you and what motivates you to stay in a crypto?
"Basically, I love building things with technology … At the moment, I'm enjoying the learning process. I'm also a lifelong learner. We have 750 employees now Every month, I have to learn some new skills … So in that sense, it's been worth it. "
Why Add Assets that are Tuning the Brand?
"This is the way I think about this now. I think of it like Google or Amazon … The general idea is that everything isn't scam or our harmful to people is added, but we should give a degree and way for them to evaluate these different tickets and coins. "
from the full AMA session available on Coinbase YouTube channel.