Cryptocurrencies — it is a new financial system that will become the backbone of the Internet in the next ten years. This opinion was expressed in an interview with Bloomberg by the co-founder of the cryptocurrency exchange Coinbase Fred Ehrsam. According to him, cryptocurrencies are a “rabbit hole” that leads us into a completely different financial world.
“Like any powerful new technology, it [технология криптовалют]rethinks the extremely important systems on which today’s world is arranged. This is her strength, ”said Ersam.
At the same time, he believes that cryptocurrencies are much more high-tech than just digital money. According to Ersam, cryptocurrencies are based on a three-phase evolution model:
digital money;
new financial system;
new internet application platform.
The technology is now in the early stages of phase three, Ersam noted. However, within ten years, many popular Internet applications will switch to cryptocurrencies, the Coinbase co-founder is sure.
Crypto exchange Coinbase has previously tried to accelerate the Internet’s transition to the cryptocurrency market through its decentralized browser in Coinbase Wallet. However, over time, the exchange had to get rid of it due to the requirements of Apple. Later, Coinbase CEO Bill Armstrong stated that Apple is blocking the functionality of many crypto / blockchain applications hosted on the marketplace.
Moreover, Apple is still an outsider in the blockchain market. As Forbes found out, Apple’s only contribution to the blockchain industry was a patent and registration with the US Securities and Exchange Commission. Coinbase (COIN) share price at the time of writing is $ 228.05.
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