In 2008 the concept of cryptocurrencies was unknown to 99.9% of the population of the world. Who knows if even Satoshi Nakamoto knew how fast cryptocurrencies would popularize. In 2013, there were a small bunch of people who managed to make a fortune from Bitcoin. So moving forward to 2018, the crypto ecosystem has around 40 million people. Is it possible for that eco system to increase from 40 million to 1 billion in 5 years? A TechCrunch report from last Friday, says that the Coinbase CEO Brian Armstrong belives so.
Brian Armstrong thinks that digital currencies will grow substantially, while attributing growth to commercial organizations with their own tokens. These tokens would reportedly function along with equity as a sort of alternative investment system. On the future token system, Brian Armstrong explained that:
“It will make sense for any company, which has a cap table to have their own token. Every single open source project, charity or any new type of decentralized app or organization, they will all have their own tokens.”
One of the more important issues, which is widely discussed is regulation. This is one of the key factors for the implementation of his vision. Brian Armstrong refers to it as one “big open question” and notes that it remains to be seen if the majority of tokens will be recognized as securities. He added that Coinbase feels a “substantial subset of the tokens, will be securities.”
Armstrong also expressed his desire for Coinbase to increase its token hosting. He noted that currently, the exchange hosts “hundreds” of tokens and that number can potentially reach “millions” in the not so distant future. Earlier this year, Coinbase announced their plans to operate a regulated broker-dealer.
The exchange acquired securities dealer Keystone Capital Corp, Venovate Marketplace Inc and Digital Wealth LLC. These acquisitions will help the exchange in its expansion towards non-crypto-related financial products.
A more recent announcement from Coinbase informed of the exchange’s decision to open trading for 4 additional cryptocurrencies for the United Kingdom pound sterling (GBP). Coinbase’s customers in the United Kingdom will now be able to trade Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC) and Bitcoin Cash (BCH) for GPB, in addition to the already existing Bitcoin (BTC).
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