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Coinbase CEO pointed out 4 important things that Bitcoin needs to do to develop this year

Coinbase CEO presented 4 important things that Bitcoin needs to do to develop this year

Brian Armstrong – CEO of major U.S. crypto exchange Coinbase, has just talked about the potential growth of cryptocurrencies, as well as the driving forces for this growth.

Cryptocurrency has grown thanks to economic stimulus policies

He said the stock market decline and lower interest rates could lead to the growth of the cryptocurrency sector this year.

The CEO of Coinbase also added that governments in many countries around the world will stimulate the economy in every way, including quantitative easing and expansion of money supply, in fact printing more money.

According to Armstrong, this will lead to a shift of funds into cryptocurrencies, which is seen as a haven against inflation. He also reminded that this will be the year that institutional investors need to switch minds, need to see cryptocurrencies from trading currencies into reserve currencies.

4 things the cryptocurrency industry needs to do

Coinbase's CEO said that in order for cryptocurrencies to thrive, there are four jobs that the industry needs to perform:

  • Ability of extension. These blockchains can achieve a minimum of thousands of transactions per second to help that cryptocurrency receive mainstream acceptance.
  • Security. Need to have coins safe, secure.
  • Decentralized identification. A decentralized application inside an electronic wallet should automatically know the user. It will allow users to earn reputation and authentication points or requests for KYC (customer authentication). This can help unlock in many use cases.
  • Developer tools These tools need to be very simple for developers to build apps, publish and distribute them.

As for the prospect of a fight in the field of blockchain and cryptocurrencies in the far future, Armstrong is not sure about who won the month. He said that in tens of years, it is not necessary that Bitcoin No. 1 in the world will be the winner.

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