Brian Armstrong, CEO of Coinbase has just released three unstoppable arguments that will promote crypto-adoption.
Price volatility prevents massive adoption
Mass adoption is a crucial milestone for the development of crypto-industry, according to the CEO of Coinbase.
This is the best way to build a sustainable cryptocurrency ecosystem.
In addition, Armstrong spoke of three key elements: volatility, scalability and usability that will boost the growth of the cryptocurrency industry.
Volatility can be a major obstacle for Bitcoin. It would be difficult to use the virtual currency as a real medium of exchange if its price is subject to a strong fluctuation.
Nevertheless, stablecoins are a way of circumventing this hyper-volatility. Armstrong said:
“The other thing that will help with this volatility is that there are more and more real use cases in the world, so those crazy bubbles going up and down and all the speculation about crypto-currencies fade if we drive the utility phase. “
Multiple research in terms of scalability and usability
The Lightning Network and next-generation protocols will provide an effective solution to scalability issues.
“We need to ensure that the cryptocurrency is not only in the range of 5 – 10 – 20 transactions per second but in the range of 500 per second to 5000 per second to really beat the level of PayPal or Visa . This would allow us to obtain for example an application with one hundred million people using virtual currencies, so scalability is in second position. “
The third and final factor of global adoption, usability, is a little more complicated to handle. Although there are usability applications, they are too complicated for real, everyday use.
What do you think about these 3 crypto-adoption factors? Give us your opinion in the comments section.