Brian Armstrong: “cryptocurrencies will spawn a wave of new companies, like the Internet”

Coinbase CEO Brian Armstrong likened the development of cryptocurrencies to the rise of the Internet, and offered to help central banks create government-owned cryptocurrencies.

In an interview, Brian Armstrong said that the latest technology can benefit the whole world as the cryptocurrency space will foster the emergence of new companies. In turn, this will lead to an increase in the number of jobs.

The head of Coinbase explained that with the advent of the Internet, many countries also feared its development and tried to control the flow of information. China has gone very far in this regard, still trying to supervise the Internet to the best of its ability.

“Despite the fear of the new, most countries in the free world have embraced the Internet, which has opened up tremendous opportunities for everyone. New organizations have emerged on the Internet that have become some of the largest companies in the world. The same can be said about cryptocurrencies, ”said Armstrong.

He added that crypto assets should be seen as an addition to the traditional economy. In such a case, governments, along with ordinary citizens, can greatly benefit from this. The Coinbase founder has also spoken out about the creation of digital currencies for central banks. In his opinion, in the near future, every developed country will launch a state cryptocurrency. Therefore, the US Federal Reserve (FRS) should now thoroughly study the possibility of launching its own digital currency pegged to the US dollar, and move from the “research stage” to concrete actions.

Coinbase has also expressed its willingness to assist all central banks that intend to start creating digital currencies. Armstrong said last month that government cryptocurrencies could be listed on Coinbase if they meet established listing standards.