Coinbase CEO Lists Three Things Crypto Needs For Mass Adoption

The CEO of Coinbase, Brian Armstrong, is in the latest crypto news for his new comments geared towards crypto mass adoption. According to Armstrong,  there are three things that the world of cryptocurrencies needs for mass adoption – volatility, scalability and usability.

As the Coinbase CEO listed, mass adoption depends on these three. He made his claim during a live ask-me-anything (AMA) session on April 2 which lasted for about 45 minutes and where he answered selected questions submitted by the crypto community.

When addressing the first question on the potential for mass crypto adoption, Coinbase’s CEO said that a cryptocurrency can achieve the mass adoption by improving its scalability and usability while reducing the volatility.

He further noted that when it comes to volatility, if the crypto markets keep swinging dramatically, it will be hard to get more traditional investors involved. That is why the industry needs more stable prices, according to Armstrong, which will be achieved via stablecoins – as well as more use cases to attract people.

Armstrong added that there are up to ten teams working on scalability solutions such as the Lighting Network, to improve the crypto transactions. Thanks to the development of these solutions, cryptocurrencies might reach 500 to 5,000 transactions per second and start working at Visa and PayPal volumes.

The usability also needs to be improved. Armstrong said that right now, there are too many steps a user needs to make in order to invest in cryptocurrencies – suggesting that crypto investment should work much easily. He specifically used the Chinese app WeChat as an example of quality.

The CEO of Coinbase finally changed his mind to being agnostic to all of the coins and crypto protocols and decided to support them all – instead of picking the winners as he said. However, as we previously reported, Armstrong is a big fan of Bitcoin which he has confirmed on many occasions, saying that BTC was “his first love.”