Crypto a Technology for Updating the Financial System: Coinbase CEO

  • Armstrong emphasizes that crypto is a technology that can update various financial products.
  • Coinbase CEO announces a TV campaign to explain why crypto is crucial for updating the financial system.

In a series of videos titled “Why Crypto with Brian Armstrong,” Coinbase co-founder and CEO Brian Armstrong passionately advocates for the integration of cryptocurrencies into the global financial system. Armstrong believes that crypto has the potential to revolutionize finance and empower individuals worldwide.

During an episode titled “We Need an Update (Extended Cut),” Armstrong expresses concerns about the prevailing perception of cryptocurrencies as speculative assets. He highlights that crypto’s true potential extends beyond trading, as users are discovering novel ways to utilize it.

Fundamentally, crypto is not a financial product. It’s a technology that can update all kinds of financial products.

Armstrong underscores the importance of understanding crypto as a technology rather than solely as a financial product. He outlines its potential to enhance settlement times, facilitate affordable cross-border remittances, and revolutionize payment systems for artists, enabling direct connections with their fans.

On May 22, Armstrong announced a TV campaign in Washington, D.C., that aims to explain why “crypto is the most important technology America has to update the financial system.” He stressed the need for policy work to ensure the US does not lag behind the transformation.

In another episode titled “Crypto Belongs in America,” Armstrong highlights the global embrace of crypto while expressing concerns about the US falling behind. He urges the establishment of a clear regulatory framework, emphasizing the necessity of a rule book to navigate the potential of cryptocurrencies.

Regardless of personal opinions, the Coinbase CEO believes that “cryptocurrency is not going anywhere.” He warns that it is only a matter of time until it becomes crucial to national security.

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