Cryptocurrency

1 Billion People Will Be in Crypto Ecosystem in 5 Years: Brian Armstrong

Brian Armstrong, CEO of Coinbase cryptocurrency exchange, recently predicted that in the next five years there would be more than 1 billion people engaged with cryptocurrency ecosystem which is currently holding 40 million people, according to the reports from TechCrunch.

It comes as a no surprise as with time and challenging technological advancements, more and more people are becoming aware of the concept of cryptocurrency and its ongoing rates. It means that shortly, there will also be an increase in the current number of people that are involved in the crypto ecosystem in a few more years, considering the increasing acknowledgment.

Armstrong stated his views in the interview with TechCrunch on September 7, where he announced that there would be substantial growth in the total number of digital currencies as well as the crypto ecosystem. This growth will further add towards the growth of commercial organizations which works at developing respective tokens. They will be used together with equity to provide the industry with an alternative investment system.

Armstrong also explained that it makes sense for any company having cap table to also own their respective tokens at hand. Not only organizations and companies the token development should be by every open source project, every fund, every charity, all kinds of decentralized apps and organizations for the better consequences.

Brian Armstrong, Coinbase CEO

He further addressed the regulation issue as being one of the most critical factors responsible for the implementation of this vision. Armstrong also noted that it is still a “big open question,” as to whether the majority of these tokens can recognize as securities. The Coinbase team believes that these tokens have the potential of becoming the substantial set meant for security. As a result, Brian Armstrong believes that his team at Coinbase could launch hundreds of tokens in years and probably “millions in the future.”

The Coinbase CEO further noted that for becoming a regulated broker/dealer, Coinbase needs to offer future services which include cryptocurrency security trading, over-the-counter trading, and margin, which they have acquired securities dealers from Keystone Capital Corp, Venovate Marketplace and Digital Wealth LLC. It is the type of acquisition which could potentially help the company in expanding their substantial growth in the matters related to non-crypto finances.

Coinbase recently announced that they would soon launch trading of four additional cryptocurrencies designated for the U.K. pound sterling. As a result, the British customers will now enable trading altcoins, Litecoin (LTC), Ethereum (ETH), Ethereum Classic (ETC) and Bitcoin Cash (BCH), along with existing GBP trading with Bitcoin (BTC).

About the author

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Margi Brambhatt

Margi has done diploma in Mass Media & Journalism. She has previously worked as a freelance reporter for various famous Finance media platforms. When she is not writing or editing others reports, you can find her engulfed in reading books. She believes in reporting content which is 100% well researched.

You can also mail her at [email protected] to discuss anything related to her reports.

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