Coinbase CEO Brian Armstrong outlined ten concepts with the potential to shape the future of the cryptocurrency industry.
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“I decided to share ten top ideas in the hope that someone would take them up and bring them to life,” he said.
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The executive expressed hope that the initiative would inspire developers amid the bear market.
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One of the concepts mentioned was flatcoins — decentralized stablecoins that \”track the rate of inflation\” to preserve purchasing power. A coin may be backed by a basket of assets or use an algorithmic approach.
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As examples, Armstrong cited Ampleforth and Truflation.
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According to him, something similar is needed because people are reluctant to spend Bitcoin, and fiat-backed stablecoins \”suffer inflation and confiscation — just like national currencies.\”
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Another noteworthy concept is on-chain reputation. The term refers to a system that assigns scores to addresses or ENS based on on-chain activity.
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In terms of applications, Armstrong cited lending, rating, and fraud prevention. He compared on-chain reputation to PageRank от Google.
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Armstrong also pointed to the potential of Web3 advertising, which would be paid based on on-network activity. This would distinguish it from the Web 2.0 version, based on views or clicks. On-chain advertising could operate on smart contracts that set payments and wallets. The latter would be able to choose which videos to show, he explained.
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On-chain fundraising also featured in Armstrong’s list of ideas. This concept democratises fundraising, helping the next generation of ICO projects and startups raise money on the blockchain in a manner compliant with regulatory requirements.
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Armstrong also expressed hope for the emergence of crypto job marketplaces and on-chain tasks. A platform could help people find work worldwide with payments in digital assets, without cross-border settlement issues.
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Among other proposals:
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- privacy-enhancing solutions for L2-networks such as Aztec, Polygon, and zkSync;
- a fully decentralised P2P platform for exchanging cryptocurrencies for fiat and back;
- on-chain games;
- real-world asset tokenisation solutions such as Goldfinch and Centrifuge.
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In conclusion, Armstrong invited developers to the Coinbase Ventures summit. The executive suggested that some teams could secure funding from the venture arm.
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In March, Coinbase named priority directions for developing the Base ecosystem, among which flatcoins were mentioned.
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In December 2022, Ethereum co-founder Vitalik Buterin highlighted five exciting vectors for the development of the ecosystem of the second-largest cryptocurrency.
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