Crypto Mass Adoption: Coinbase’s Brian Armstrong Highlights The Biggest Barriers
The mainstream crypto adoption and the mass adoption of the digital assets underlying tech, the blockchain, have been one of the most important goals that the crypto industry has set along the way.
There have been a lot of moves in this direction, and things continue to be successful.
Coinbase CEO addresses the main issues
Now, the chief executive of Coinbase addresses some barriers that are in the way of this massive goal.
During a podcast with investor Patrick O’Shaughnessy, Brian Armstrong addresses the biggest issues that are in the way of mass crypto adoption.
“I think there are challenges just in terms of scalability, usability, and then privacy, and security on these blockchains. If we go from dial-up to broadband and all those kinds of things, that will be a huge unlock,” he said.
Armstrong also addressed the need for clear regulatory frameworks that could catalyze wider crypto adoption.
“There’s definitely some regulatory component to it. Right now there are a lot of startups that are trying to be created…. ” he said as cited by the online publication the Daily Hodl.
He continued and explained that “A lot of the regulatory environment is still unclear for them about ‘is this a security, what kind of security regulations might we trip up if you do this’ and so there’s all these kinds of different exemptions and stuff that people are trying to jump through hoops to try to make it work.”
Coinbase is working on a new project
He also said that the crypto exchange is currently working hard on a project that has the aim to remove some challenges that the crypto startups are facing while they have to deal with token issuance, custody, and governance.
We recommend that you check out the original article in order to see what more he had to say. You should also check out the complete podcast.
Brian Armstrong is the co-founder and CEO of Coinbase, one of the largest crypto exchanges in the world (its reported Coinbase holds 966,230 Bitcoin ($7B) in Cold Wallet). Prior to his involvement with the blockchain and Coinbase, Armstrong worked at Deloitte and Touche as an Enterprise Risk Management Consultant.
Coinbase is a digital currency exchange headquartered in San Francisco, California.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.