GM Readers!šŖ It's BitDegree Insider, and let's wrap this week up.
āļøToday's selection:
- š§āš¦²Ā Brian Armstrong's Vision
- š§©ļøAnswer To Thursday Quiz
- šSelected Meme of The Day
- š°Bite-Sized News
COINBASE CEO SHARES HIS VISION FOR STUFF THAT WE ALL NEED
It's the end of the week. Let's get dreamyā¦ Or, to soud more professional, let's put it this way. Let's get future-oriented.
Brian Armstrong, the man, the myth, the legend behind Coinbase, recently unveiledĀ 10 visionary concepts for the future of the crypto landscape. In a recent blogpost, Armstrong unveiled these hints at what the industry needs, with the hope that the crypto community's brightest minds would seize upon them to propel the industry forward.
Here are the ideas, summarized:
- Flatcoin. Armstrong proposes the creation of a decentralized currency with a twist ā one that meticulously mirrors consumer prices, ensuring the enduring potency of purchasing power. It might find its strength in a diverse asset basket or employ a sophisticated algorithmic approach.
- Onchain Reputation. In the era of decentralized identity systems exemplified by ENS (Ethereum Name Service), Armstrong envisions a protocol assigning reputation scores to each address or ENS name. These scores would spring from onchain data, establishing trust and credibility.
- Onchain Ads. Revolutionizing advertising in the Web 3.0 landscape, Armstrong paints a picture of smart contracts dictating what they're willing to shell out for user actions. This blueprint ushers in real-time auctions for ad inventory, fundamentally altering how ads interact with the digital realm.
- Onchain Capital Formation. Recognizing the need for a more accessible and equitable capital-raising system, Armstrong calls for streamlined mechanisms, ensuring budding entrepreneurs beyond financial epicenters can access funding.
- Job/Task Marketplace. Breaking down barriers to cross-border payments, Armstrong foresees a global labor marketplace that compensates in crypto. This international platform transcends geographical boundaries, welcoming talent from all corners of the globe.
- Privacy for Layer-2. Privacy remains paramount, even in Layer 2 scaling solutions. Armstrong e
mphasizes the urgency of deploying privacy solutions in this arena, recognizing the sensitive nature of many transactions.
- True P2p (Peer-to-Peer). Envisioning a decentralized peer-to-peer exchange, Armstrong underscores its onchain nature, replete with escrow, reputation systems, and mediation functionalities. A trust-minimized trading haven.
- Real Web3 Games. Armstrong believes the synergy between gaming and crypto has vast untapped potential. From player-owned items to intricate in-game economies, the possibilities are staggering.
- Tokenization Of Real-World Assets. The act of tokenizing real-world assets, from debt instruments to luxury items, holds incredible promise. Armstrong sees a future where these assets are seamlessly digitized, unlocking newfound liquidity.
- Network States. Finally, Armstrong urges the development of comprehensive software tools to govern nascent cities and network states. These tools would encompass the full spectrum of governance, from voting and fundraising to citizenship management, creating a foundation for self-sustaining, crypto-powered communities.
In closing, he urged developers to persist in their endeavors within the crypto realm. Well, of course he did. What's the alternative? Discourage devs from creating cool, badass stuff? Of course not, and Brian knows that.
It's funny to see how much less out-of-touch these ideas seem today. Imagine reading them like 5 years ago. It would most definitely have seemed that such proposals belonged to the fiction section of the Web3 bookshop. But, oh well, that's life, and this aspect of it is kinda mega fascinating.
TL;DR:Ā Coinbase's CEO shares a list of 10 ideas that would change the crypto industry if successfully developed.
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SELECTED MEME OF THE DAY
BITE-SIZED NEWS
- 5 Chinese Companies Introduce ChatGPT-Like AI Chatbots to the General Public. Government-approved AI chatbots were introduced to Chinese users.
- The SEC Delays Decision on Bitcoin ETF Applications to Mid-October. ETFs might not be as close as believed as the SEC delays its decision.
- HashKey Capital to Spend Half of Its $100M Digital Asset Fund on Altcoins. A financial services firm from Hong Kong snubs Bitcoin and is more interested in altcoins.
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