Brian Armstrong, the CEO and Founder of Coinbase, one of the biggest cryptocurrency exchange platform in the world, spoke about the reason behind the inception of Coinbase and Satoshi Nakamoto, during an interview with Fortune.
The CEO listed under Fortune’s 40 under 40 stated that there were several reasons which led to the inception of Coinbase. He said that one of the reason was the Bitcoin white paper written by Satoshi Nakamoto. Brian continued to say:
“One was that I happen to read about just new technology, Bitcoin when the white paper came out in 2010 which was Satoshi Nakamoto’s Bitcoin research paper. And I remember thinking this is the most important thing I’ve read in probably five years.”
He further added that the Bitcoin whitepaper and the idea of the world using a universal currency, eventually led him to pursue the creation of Coinbase. He said that the identity of Satoshi Nakamoto continues to remain a big mystery. However, Brian thinks that the important factor is that the idea of Bitcoin “stands on its own” irrespective of the writer of the white paper or the person who created or discovered it.
The CEO continued to say that the people who created Bitcoin wanted people all the world to have control over their money and pave the path for an efficient economy and create more freedom. Brian added that Coinbase is trying to help people all over the world have access to this technology.
Moreover, Brian spoke about the web revolution over the past decades. According to him, Web 1.o was about publishing information on the web, Web 2.o was about interaction on the internet and Web 3.0 is about the transferring value on the internet. Brian also said that this is the early stage of cryptocurrencies and that it resembles the early stage of the internet. He further added that Coinbase can become the “Google of crypto”. The CEO said:
“… in the sense that this new way that applications are being built on the internet Web 3.0, we can be the leading company in the world for that.”
Furthermore, the VP of Corporate and Business Development of Coinbase, Emilie Choi said that the mission of the exchange platform is to “create an open financial system for the world”. She continued to say that at present the space is in a bit of a crypto slump and this is the time Coinbase thrives. According to her, the reason for this is that they are building the foundation. Emilie said:
“We are investing so heavily, and making sure that we have a scalable foundation now. And so we see a lot of key indicators that show us that over time, this is going to be a very sustainable trend”
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