Coinbase just addressed replacing traditional finance. Check out the latest reports about all this below.
Coinbase addresses the necessity to replace the traditional finance system
According to the latest important re[oprts coming from the crypto space, the crypto exchange Coinbase is making the case that it’s time for the nascent industry to take over the existing traditional financial system.
In a new Twitter thread, Coinbase notes that if all the crypto users in the world were their own country, it would be the third largest nation on earth.
Coinbase names several growing use cases. Among the most important ones the crypto exchange is addressing the following: inflation hedging in developing countries, crypto remittances, and efficient provision of humanitarian aid.
“Crypto can provide stability. Venezuela went hyperinflationary. Egypt and Lebanon recently devalued their currencies. Stablecoins like USDC, which is held by 1.6 million people and is pegged to the US dollar, are less inflationary options.”
Coinbase also says that the US should do what it can to place itself at the forefront of crypto adoption.
“Widespread crypto adoption has begun, and the countries creating common sense legislation are positioned to become industry leaders. Many are enacting regulations aimed at protecting users while enabling innovation, including the UK, EU, and Japan. America should do the same.”
Coinbase in the news
The other day, we were revaling the fact that Coinbase founder and CEO Brian Armstrong is saying that the utility of crypto and blockchain technology has expanded beyond their original use case.
Armstrong says in a new Bloomberg interview that while crypto assets were originally conceived as digital money, new use cases have emerged over time.
“The first use case of crypto was really a new form of money or this new asset class that got created… that is no small thing… that is a game changer.”