10 new concepts set to revolutionize the crypto market
Coinbase’s CEO is currently excited about 10 major crypto concepts that could completely change the face of the digital asset sector worldwide. In a video published this August 30, Brian Armstrong explained these concepts to developers, encouraging them to take advantage of the bear market to work on them. Read more.
- Brian Armstrong presents 10 crypto concepts, including “flatcoin”, a decentralized stablecoin that follows the inflation curve;
- Among the innovative ideas, “Software for Network States” would enable on-chain governance for cities and communities;
- Armstrong also encourages the development of on-chain advertising, on-chain reputation and on-chain capital to transform the crypto sector.
Flatcoin, Software for Network States, Privacy for Layer 2
In his video posted on August 30 on the 10 crypto concepts to be developed during the bear market, Coinbase’s boss began with the concept of “flatcoin”. He presents it as a decentralized stablecoin that follows the inflation curve and preserves the purchasing power of crypto users.
Armstrong believes that, with services like Ampleforth and Truflation tracking on-chain inflation, flatcoins could reduce crypto users’ reluctance towards bitcoin and fiat-backed stablecoins in the event of inflation or a bear market.
The other very ambitious crypto idea he puts forward is Software for Network States. This is a set of tools that will enable cities and communities to engage in on-chain governance, on-chain voting, on-chain taxation and on-chain service offerings.
His concept of “privacy for Layer 2” is also very interesting. Armstrong believes, without discounting the need for transparency, that “people don’t want most crypto transactions to be public”.
On-chain advertising, on-chain reputation and on-chain capital
In his video, Armstrong proposes the Web3 concept of “on-chain advertising”, which will be based on on-chain actions rather than views and clicks, with associated smart contracts to manage payments if required.
Referring to Google’s PageRank algorithm, he also proposes the concept of “on-chain reputation”, also based on Web3. He indicates that on-chain reputation will make it possible to assign reputation scores to wallet addresses, which will be very useful in the case of crypto loans or in the fight against fraud.
Above all, the Coinbase CEO invited developers to work on the crypto concept of on-chain capital, which he believes will revolutionize fundraising.
On-chain gaming, tokenization, crypto employment, P2P on-chain exchange
While Brian Armstrong proposes that developers work on exclusively on-chain peer-to-peer exchanges and crypto-paid jobs, his other concepts such as on-chain gaming and tokenization are nothing new. In any case, they were great ideas for keeping developers busy and motivated throughout the bear market.
We expect to see Coinbase’s CEO return to these crypto concepts at the next Coinbase Ventures Builder Summit, scheduled for October in California.
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Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.