Friday, July 30, 2021

Crypto exchange giant Coinbase plans to build an app store for decentralized apps.

The Takeaway:

CEO of crypto exchange giant Coinbase Brian Armstrong says the company has an opportunity to follow Apple by creating an app store for cryptocurrency.

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Brian Armstrong, CEO of one of the leading crypto exchanges, Coinbase, revealed in a blog post that he has big plans for the company. He stated, “the crypto economy is still in its early stages, but it is clear that every year more and more economic activity will take place on crypto rails. Coinbase is the trusted bridge to the crypto economy today, but we need to become the place people also go to participate in the crypto economy.”

 

Coinbase CEO Brian Armstrong wants to build a crypto app store. 

Armstrong says that just as the company helped people access Bitcoin for the first time, it needs to do the same for the decentralized crypto economy, including building its own app store for the market. Armstrong further wrote, “Apple didn’t attempt to build every app for the iPhone; it empowered developers and gave mobile users an easy way to access new innovative apps. We need to do the same in crypto. There are now 10s of billions of dollars of economic activity running on dApps, and a new trend is coming out every three months. We’ll work to give our users easy access to all of this from the main Coinbase product.”

 

Armstrong believes decentralized crypto-economy will also be a major area of growth. 

Brian Armstrong wrote in the blog post that their centralized (CeFi) products would continue to play a critical role in the growth of the crypto economy. But the decentralized crypto economy will also be a major area of growth. “With all of this new innovation coming to crypto, we have a massive opportunity to give our customers access to these new products and features,” Coinbase CEO added. 

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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