Coinbase CEO predicts Bitcoin industry development for 10 years

Brian Armstrong, the head of Coinbase, made some bold assumptions about what the bitcoin industry will achieve in the next ten years.

In his opinion, developers will be able to solve the problem of scaling and limited privacy in public blockchains. The ability to scale will lead to the emergence of new applications and new products, and privacy features will be introduced into the blockchains at a basic level by analogy with HTTPS. As a result, about 1 billion people will use cryptocurrencies (950 million more than now), he concluded.

Mass adoption, Armstrong noted, will primarily affect emerging markets, where the economy is extremely weak, and governments and institutions will also begin to use cryptocurrencies. Most technology startups somehow use distributed registry technology, as they did with the Internet and machine learning.

The head of the largest American cryptocurrency company said that in the new decade we will witness the consolidation of development. Several projects that will achieve the greatest success in scaling will become the basic infrastructure for millions of tokens through reverse forks (abandonment of their own blockchains in favor of more reliable ones).

Armstrong is counting on the growing popularity of utilitarian cryptocurrencies, although it recognizes that trading and speculation will remain in trend.

The entrepreneur added that a new type of crypto start-ups will attract investments in cryptocurrencies, issue tokens for early users, turning them into evangelists, and also unite global communities much faster than traditional companies.

He is convinced that the cryptocurrency market will be compared to traditional financial markets in the context of dividing companies into exclusively brokers, exchanges and custodians. He cited the example of Coinbase Custody, which is already a separate legal entity and focused on asset storage. Coinbase Pro Exchange, he stressed, will become an independent brokerage and exchange business in the future.

Armstrong did not forget to place high hopes on decentralized services - DEX, DeFi and Dapps.

If bitcoin reaches $ 200 thousand, then more than half of all billionaires will be from the bitcoin industry. Many of them will become philanthropists, as well as invest in the development of science and technology, finally suggested the head of Coinbase.