Because of his convictions, Armstrong is a paradox:
He welcomes regulation, but is battling the SEC to prevent innovation-stifling overreach.
He runs a centralized exchange, but promotes the very decentralized technology that will put him out of business.
He is a strong advocate for individual privacy and self-custody of digital assets that give users full control of their private keys, and yet Coinbase offers non-custodial wallet services (that give users ZERO control of keys) which must comply with strict know-your-customer (KYC) laws that require a great amount of private information.
The common thread, if I’m reading it correct:
Armstrong is idealistic in his long-term vision but pragmatic in his short-term execution.
He's willing to make certain compromises and work within existing constraints in order to make incremental progress toward a more decentralized and privacy-preserving financial system.
This ability to navigate between two seemingly opposing forces - centralization vs. decentralization, privacy vs. transparency, innovation vs. regulation - is likely a key reason he's been able to build Coinbase into the crypto industry leader it is today.
Like the Netscape founders in the 90s, Armstrong is a technology pioneer on a mission to bring a powerful new tool to the masses.
It will be interesting to watch his strategy play out as both Coinbase and the broader crypto ecosystem continue to evolve.
Author: Chris C.
Source: AltucherConfidential
Profits from free accurate cryptos signals: https://www.predictmag.com/
He welcomes regulation, but is battling the SEC to prevent innovation-stifling overreach.
He runs a centralized exchange, but promotes the very decentralized technology that will put him out of business.
He is a strong advocate for individual privacy and self-custody of digital assets that give users full control of their private keys, and yet Coinbase offers non-custodial wallet services (that give users ZERO control of keys) which must comply with strict know-your-customer (KYC) laws that require a great amount of private information.
The common thread, if I’m reading it correct:
Armstrong is idealistic in his long-term vision but pragmatic in his short-term execution.
He's willing to make certain compromises and work within existing constraints in order to make incremental progress toward a more decentralized and privacy-preserving financial system.
This ability to navigate between two seemingly opposing forces - centralization vs. decentralization, privacy vs. transparency, innovation vs. regulation - is likely a key reason he's been able to build Coinbase into the crypto industry leader it is today.
Like the Netscape founders in the 90s, Armstrong is a technology pioneer on a mission to bring a powerful new tool to the masses.
It will be interesting to watch his strategy play out as both Coinbase and the broader crypto ecosystem continue to evolve.
Author: Chris C.
Source: AltucherConfidential
Profits from free accurate cryptos signals: https://www.predictmag.com/
