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Brian Armstrong, Coinbase CEO, On Why Bitcoin is Important Invention of All Times

February 1, 2019

Brian Armstrong, who founded Coinbase, headquartered in the US, believes that “bitcoin is the important invention of all times” because of the spectacular scale of transparency, immutability and de-regularized financial system it shall offer.

Bitcoin, when launched in 2009, was unheard off outside technology-consuming circles. By 2019, there has been mini-adoption of the decentralized financial system, even as chances of mass adoption of bitcoin across the world are high.

Coinbase has been very focused on compliance with the SEC and has been calling out to its customer to follow-through on the government needs.

Coinbase is the most complaint

The founder says that it is the most important invention in recent times, but Bitcoin is driving more number of protocols as well as platforms. Armstrong has been agreeable about Lightning network services now. However, despite the guarded appreciation of other frameworks and protocols for the cryptocurrency, the owner of one of the world’s largest crypto exchange yet believes the White Paper on Bitcoin is by far the most authentic, original paper which will finally lead the world towards decentralized ecosystem.

According to Armstrong’s interview “Airbnb had grown really quickly — it had grown into 600 people — and they were moving money all over the world to 190 countries. So I had a front-row seat into how broken the global financial system was because there were high fees and delays, and each country we were trying to move money into and out of hand opaque, broken infrastructure — like an oligopoly of different payment companies.”

Full Promise, yet to come

In his latest tweet, “the full promise of Bitcoin is still yet to be realized,” says Brain Armstrong explaining further that, “to the extent, I was critical of people working on any part of Bitcoin or crypto in the past, I apologize. My hope is that we see this technology succeed in the world, and my hat is off to anyone working to make that happen. I believe we’re still at the beginning. The white paper signaled the start of a movement and the full promise of Bitcoin is still yet to be realized.”

To the critics of bitcoin, Armstrong’s passion for change to de-centralized currencies is unbelievable. They aver that the young are merely impressed by the technology, but the transformation of the financial systems to virtual currencies, where the determination of their value is highly complicated, Bitcoin’s complete dominance could be far removed from reality.

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