Bitcoin [BTC] and Ethereum [ETH] will be widely used in upcoming technologies, says Coinbase’s Brian Armstrong


The current cryptocurrency market scenario has left a lot of investors and users skeptical about the rise of digital assets, especially after the fall of Bitcoin [BTC] below the $4000 mark. On the other hand, the bear market has left Brian Armstrong, the Chief Executive Officer of Coinbase, unfazed with the official releasing a circular on the adoption of cryptocurrencies in the Virtual Reality [VR] scenario.

In the latest post, the head of the largest cryptocurrency exchange on the planet in terms of users gave out his hypothesis on how Bitcoin [BTC] and Ethereum [ETH] will be a catalyst in the gaming and VR scene. Armstrong stated that virtual world creators can create a centralized digital currency which in his words will be “like Second Life did with the Linden Dollar, which was pre-bitcoin”.

He went on to say that companies also have the option of using existing cryptocurrencies like the popular Bitcoin or Ethereum. According to the Coinbase CEO, another step that organizations could take is to issue their own tokens on established platforms like Ethereum. In the circular given out by Brian Armstrong, he also added:

“It allows participants in these worlds (especially content creators) to earn “real money”. This means more people will spend time in the game. Perhaps they will even earn a living in the virtual world that pays their rent in the real world. If this happens, you could see people spend 8 to 12 hours per day.”

Armstrong’s company has been slowly adding developments and updates onto its platform, with the feature of free PayPal withdrawals being a standout example. Coinbase had announced that the update will allow users to withdraw USD, EUR, and GBP free of charge to their PayPal account. The news was completely out of the blue as Coinbase had not announced the addition on any of their social media handles or official publications.

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