Crypto To Become A Universal Financial Instrument
Crypto adoption has been the main goal of the crypto industry back in 2019. There have been various moves in this direction that have taken the crypto space on the right path towards the achievement of this important goal.
The goal remains important for 2020 as well, and probably the most significant move that’s been made in this direction comes from Visa and Coinbase this year.
Not too long ago, we reported that from now on, Coinbase is powering the world’s first crypto Visa debit cards for everyday use.
As the first crypto member of the Visa network, Coinbase now allows customers to spend their digital assets such as Bitcoin (BTC), Ethereum (ETH), and XRP, “online, offline and internationally, wherever Visa is accepted.”
Crypto becomes a universal financial instrument
Crypto is becoming a universal financial instrument for people in economically developing countries.
According to the online publication Crypto Daily, at least 50 million people all over the world are using cryptos.
Coinbase’s CEO Brian Armstrong said that it’s possible to make this number boost to 5 billion in the future. This is thanks to blockchain, says the magazine.
The CEO of Coinbase spoke on the topic in a recent Twitter thread about the chat he had with the co-founder of Andreessen Horowitz, Ben Horowitz.
Armstrong explained how the Internet has changed over the years, especially since the early days in the 90s.
“Things weren’t very scalable during this time, but when innovations such as SSL and HTTPS were created, developers and start-ups began to get attracted to the then-nascent industry. These were the two tools that spurred on mainstream adoption for the Internet,” writes the online publication mentioned above.
As they started to get their first party app working in the browser, they were inventing the tools for web apps to go mainstream globally, which would attract millions of developers and startups.
— Brian Armstrong (@brian_armstrong) March 4, 2020
The crypto market has been hit really badly lately, as you probably know by now.
This sudden fall in price is triggered mostly by the global disaster due to the coronavirus pandemic.
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.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.