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Brian Armstrong, the chief executive officer of the largest (and the only public-trading so far) cryptocurrency exchange based in the U.S., has shared an optimistic take about the future merging of crypto and conventional market assets.
Crypto can make all assets more efficient: Armstrong
The Coinbase CEO has shared an excerpt from a recent podcast where he was invited to be interviewed. There, Armstrong expressed an opinion which, perhaps, many average crypto holders and top executives share.
Armstrong believes that sooner or later all asset classes and all capital formation will go on-chain.
Armstrong is certain that this mass transition of capital will eventually take place because all those assets — stocks, commodities, etc. — will function much more efficiently on-chain, thus underscoring the potential transformative impact of blockchain on traditional financial markets and systems.
Here’s how it will all start, per Armstrong
Armstrong reckons that this transition will start gradually. Nothing will happen without the active participation of the proprietors of those assets.
First, he stated, large companies will opt for blockchain to raise capital. The Coinbase CEO reckons that this will eventually become a “well-trodden path.” The rest of the companies will follow their example, the chief executive said. Crypto exchanges will begin collaborating with those companies and make crypto derivatives based on the assets those companies issue. Therefore, blockchain will efficiently help them to raise funds and attract new investors.
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