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Coinbase CEO Speaks on the Parallels of Crypto & the Internet

Coinbase CEO Speaks on the Parallels of Crypto & the Internet
  • Brian Armstrong has given his opinion between the Internet on the market for crypto. 
  • It seems what prompted The co-founder’s words was a Fireside chat between the co-founder and Ben Horowitz, the Andreessen Horowitz co-founder.

The co-founder and CEO of one of the biggest cryptocurrency platforms in the world, Brian Armstrong has given his opinion between the Internet on the market for crypto. Many thoughts were recently presented in a new Twitter thread by the Coinbase CEO. It seems what prompted The co-founder’s words was a Fireside chat between the co-founder and Ben Horowitz, the Andreessen Horowitz co-founder.

There are many similarities and differences between the Internet and cryptocurrency. When looking at the parallels though, things start to get a bit more interesting. Many people around the world are aware of the Internet and use it on a near day to day basis. A few decades ago, this wasn’t the case. Over the years the Internet has grown significantly to the scale no one would’ve predicted in the 1990s.

Of course, since the 90s, things have improved significantly with more features being added and innovation taking over. Armstrong further went on to say:

“They figured they’d try making a shopping cart (see if they could build a first party app). There was no way to save state or create a session (for instance, to make a shopping cart), so they created the concept of cookies.”

By thinking of adding new features that were not there, more concepts were being designed by experts in their field. As an example, scalability is a problem that has been an issue since the early days of the Internet. The CEO added that the SSL/HTTPs in the Internet era was similar to the efforts of privacy coins in today’s world. He said, “the parallels to crypto are pretty staggering here.”

On top of this, the co-founder said that the biggest areas that need development in terms of cryptocurrency are privacy, decentralisation and scalability. There are many blockchains in the industry that have significant challenges ahead of them but with hard work and more innovation, these challenges will be overcome in time.

For more news on this and other crypto updates, keep it with CryptoDaily!

 

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