The CEO of Coinbase is currently excited about 10 big crypto concepts that could completely change the face of the digital assets industry worldwide. In a video published on August 30, Brian Armstrong explained these concepts to developers, encouraging them to take advantage of the bear market to work on it. Details.
In short
- 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 from August 30 on the 10 crypto concepts to develop during the bear market, the boss of Coinbase started with the concept of “flatcoin”. He presents it as a decentralized stablecoin that follows the inflation curve and helps preserve the purchasing power of crypto users.
Armstrong believes that with services like Ampleforth and Truflation tracking inflation on-chain, flatcoins could reduce crypto users’ reluctance towards bitcoin and fiat-backed stablecoins in the event of inflation or of bear market.
The other very ambitious crypto idea that he puts forward is Software for Network States. This is a set of tools through which cities and communities will be able to implement on-chain governance, on-chain voting, on-chain taxation and the provision of on-chain services.
Its concept of “layer 2 privacy” is also very interesting. Armstrong believes, without neglecting 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 advertisements” which will be based on on-chain actions and not on views and clicks, with, if necessary, associated smart contracts to manage payments.
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 allow reputation scores to be assigned to wallet addresses, which will be very useful in the case of crypto loans or in the fight against fraud.
The CEO of Coinbase especially invited developers to work on the crypto concept of on-chain capital which, according to him, will revolutionize fundraising.
On-chain games, tokenization, crypto employment, P2P exchange on chain
If Brian Armstrong suggests that developers work on peer-to-peer exchanges exclusively on-chain and on jobs paid in crypto, his other concepts such as on-chain games and tokenization are not new. In any case, these were great ideas to keep developers busy and motivated throughout the bear market.
We expect to see the CEO of Coinbase return to these crypto concepts at the next Coinbase Ventures Builder summit scheduled to be held next October in California.
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