Altcoin News: Coinbase CEO Has Promised to Attract 100 Million People to Use Cryptocurrency

August 1, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Coinbase CEO Brian Armstrong spoke about his company’s large-scale plan to create an open financial system, CoinDesk writes.

According to Armstrong, Coinbase will continue to play a leading role in the development and distribution of blockchain technology, in order to attract “100 million or more people to start [using] cryptocurrency.”

“We can actually change the law, you know, bend this curve and materially change the economic freedom of the entire world by what we’re going to build … The vision for Coinbase is creating more economic freedom for every person and business in the world over the next ten years,” he said.

To realize its vision, Coinbase will continue to invest in cryptocurrency start-ups through the Coinbase Ventures incubator program. In addition, the company promises to launch a set of tools designed to improve the availability of cryptocurrency.

“Coinbase can’t do it alone, there needs to be thousands of companies out there,” he added.

Coinbase has already supported 50–60 startups, however, according to Armstrong, new investment strategies are emerging, including security tokens and initial exchange offering placements (IEO), which will contribute to the further development of the industry.

He also noted that Coinbase was able to become the largest custodian of assets in the cryptocurrency industry by complying with regulatory requirements and building relationships with traditional financial institutions. In addition, attention to financial risks and cyber threats has become the key to user confidence in the company.

Armstrong’s ultimate goal is to create a brand that over a period of 5–10 years will begin to trust a billion people to use its services when working with an open financial system.

Author: Marko Vidrih