The CEO of Coinbase, Brain Armstrong, has shared the ten most exciting innovations that will boost the crypto industry’s future, and developers can use these ideas to build in the bear market.
Armstrong shared the monolog on the platform X and YouTube channel, saying he “put these out in the ecosystem in the hopes that others would take them up.” A blog post shared on the company website outlines his ideas that he thinks will succeed in the market for digital assets, and also shares his vision of a crypto future.
The first innovation is ‘Flatcoin,’ a decentralized stablecoin that tracks inflation to preserve purchasing power. Another idea was ‘Onchain Reputation’, a system that assigns reputation scores to wallet addresses or ENS names based on on-chain activity.
As per Brain, ‘Onchain Ads’ are the best business model in Web3, which charges only when a specific action is completed, not just displaying an ad. ‘Onchain Capital Formation’ is another idea that Democratizes fundraising and could “unlock tremendous latent entrepreneurial energy across the world.”
Armstrong also sees a very bright future for marketplace for crypto jobs and tasks, and he also suggested more ideas, including ‘Privacy for Layer 2’, ‘P2P Exchange Fully Onchain’, and ‘Onchain Games.’
The CEO claimed that by encoding standardized metadata, ‘tokenizing real-world assets’ could increase market liquidity. The final suggestion was ‘software for network states’, tools to assist startup communities and cities in managing governance, voting, taxes, and services on-chain.
Coinbase will host its inaugural ‘Coinbase Venture Summit’ later this year in Malibu. Brain says, “We’ll bring together a small group of builders to discuss these ideas and others. If you already have a startup, or would like to create one,” anyone can apply for the same.