Coinbase CEO reveals top 10 crypto ideas he’s urging devs to work on
” I decided to share my 10 top ideas with the hope that someone goes out and constructs them,” he stated prior to including, “Ideas are cheap.” 1/ Im sharing the 10 concepts Im most delighted about in crypto right now. I figured I d share these.
” I decided to share my 10 top ideas with the hope that someone goes out and constructs them,” he stated before adding, “Ideas are cheap.” 1/ Im sharing the 10 ideas Im most delighted about in crypto right now. If youre constructing something in crypto or thinking about doing so – check it out.Were constructing lots at Coinbase, however we do not have time to deal with whatever. I figured I d share these.” Armstrong was also enthusiastic for a marketplace for crypto tasks and tasks, which could help people discover crypto jobs globally, allowing tasks to pay in crypto and getting rid of cross-border payment friction.
Among the first principles he talked about was a “flatcoin”– a decentralized stablecoin that tracks inflation to maintain acquiring power, which might be backed by a basket of possessions or use an algorithmic technique. Armstrong mentioned services like Ampleforth and Truflation which “offer a way to possibly track inflation on-chain today, to additional decentralize it.” He stated something like this was needed since people are unwilling to spend Bitcoin and fiat-backed stablecoins “suffer from inflation and seizure– just like fiat money.” Another concept was “on-chain credibility”– a system that appoints track record ratings to wallet addresses or ENS names based on on-chain activity. It would resemble Googles PageRank and utilized for lending, scores, and fraud prevention.Armstrong also highlighted the capacity of “onchain advertisements”– the Web3 version of adverts that would pay out based upon on-chain actions instead of Web2 advertisements that are view or click-based. They could have wise agreements that can define payments and wallets that can select which ads to show.Coinbase crypto concepts. Source: Coinbase.com” Onchain capital development”– another concept– was explained by Armstrong as a principle that democratizes fundraising, assisting the next version of ICOs and startups raise cash on-chain in a certified and trusted way. Armstrong acknowledged the ICO frenzy happened for a reason mentioning, “capital development worldwide is still way too high friction,” before including: “Democratizing fundraising could unlock tremendous latent entrepreneurial energy across the world.” Armstrong was also hopeful for a marketplace for crypto tasks and tasks, which might assist individuals find crypto jobs globally, permitting jobs to pay in crypto and removing cross-border payment friction. Coinbase just recently partnered with X (formerly Twitter) to introduce a tasks posting feature.Coinbase is delighted to partner with @X on the launch of a shiny brand-new hiring function – straight in our profile. Explore job chances while you scroll @X on mobile, desktop, and beyond. #LiveCrypto #NowHiring pic.twitter.com/s2SHlXpMEt— Coinbase (@coinbase) August 29, 2023
Armstrongs sixth concept was “privacy for layer 2,” which brings private transactions to L2 instead of having them just on public blockchains. On-chain video games are already a live concept in crypto that lets players genuinely own in-game assets as NFTs, producing economies and metaverse worlds. Related: Coinbase commemorates art, music, and gaming with a three-week blockchain eventArmstrongs last concept was “Software for Network States” which are tools to help startup cities and neighborhoods handle governance, voting, taxes, and services, on-chain.