CEO of one of the largest crypto exchanges Coinbase Brian Armstrong stated that mass crypto adoption depends on scalability, usability, and volatility. According to the live ask-me-anything session that we are reading more about in our latest cryptocurrency news, those are the three key elements.
Armstrong spoke for 45 minutes on the AMA live stream and answered multiple questions asked by the crypto community. On the first question, he said that the potential for mass adoption is only available if cryptocurrencies can improve scalability, usability and lower down the level of volatility.
As far as the volatility is concerned, if the crypto market makes drastic changes in the future, it will be extremely hard for traditional investors to get in the game. This is why the industry needs to focus and provide stable prices that can be achieved via stablecoins and to provide more use cases to attract people.
Further, he continued to explain that there are multiple teams working on scalability solutions such as the Lightning network so the time for conducting a crypto transaction will be removed. With solutions such as these, cryptocurrencies could reach up to 5000 transactions per second and will be a serious competitor to PayPal and Visa.
Usability is also one thing to keep in mind. Armstrong believes that there are many things to be taken before investing in crypto. Armstrong suggests that crypto investment for retail investors should be the easiest by using crypto apps such as WeChat.
He addressed the comments from the community about the recent #DeleteCoinbase movement. The campaign was launched recently after Coinbase acquired a former spyware company. The founder of Coinbase also said he really wants bitcoin to succeed but he regrets being too involved into promoting it in 2013.
In the end, he concluded that adding all cryptocurrencies to the platform was a good decision rather than choosing a few by saying that he was not able to add value to the coin as many believed.
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