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Friday, September 7, 2018

Will Coinbase add more coins to their platform? CEO Brian Armstrong says yes - THOUSANDS of them...

Wrapping up Global Crypto Press' on the ground coverage of this year's Tech Crunch Disrupt in San Francisco we're ending on a big note on the future of cryptocurrency from the CEO of the biggest exchange, at least as far as user base size - Brian Armstrong of Coinbase.

What he sees coming is massive, and he compares it with NASDAQ, envisioning hundreds if not thousands of tokenized digital assets being traded around the clock.

It's a topic he's probably sick of hearing... to be honest, even i'm sick of hearing (or reading) in every cryptocurrency communtiy online - when will Coinbase add new coins, and which will they be?  But this time the answer was a lot more exciting than the 'you'll have to wait and see' that Coinbase usually gives us.

Host of the discussion, Fitz Tepper asked:

"I still feel like... everyone's watching for what you guys at next, like, do you think that's a problem? And how do you move past it to where you can just add 100 and not have the price freak out and not have people watching like that?"

Coinbase's CEO responded with:

"I mean I certainly look forward to a day where we add a new asset to Coinbase and it's a non event and it almost becomes routine and boring." and continued "It will get there... because I think there's going to be, you know, hundreds of on the platform within, you know, years and I think there could be millions someday."

Millions of tokens? To take that literally seems a bit crazy, but tens of thousands? Absolutely possible! But how would we get there? Armstrong believes in the somewhat-near future, a company tokenizing assets and making them available to the public will simply be standard, saying:

"I think in five years, most startups that are created will have some kind of at least tech startups will have some kind of token associated with it, because that's just how you move value around on the internet now.

It makes sense that any company out there who, you know, has a cap table, they should have their own token, every open source project, every charity, potentially every you know, fund or these new types of decentralized organizations, these new types of decentralized apps, they're all going to have their own tokens. And so, you know, we want to be the bridge all over the world where people come and they they take fiat currency and they can get it into these different cryptocurrencies."

Of course, before we can get excited about what may come in the future, first we must deal with the reality of where things stand today.

Until regulators define the rules on dealing with digital tokenized assets, the majority of which fall under the classification of a 'security' and therefore bound to oversight from the SEC - Brian Armstrong, like so many other are forced to keep their dreams on hold.

Decisions made by the SEC over the coming months will decide if these dreams become a reality.

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Author & US Editor In Chief: Ross Davis
E-Mail: Ross@GlobalCryptoPress.com Twitter:@RossFM
San Francisco News Desk