Coinbase CEO Brian Armstrong says crypto companies could be the tech giants of tomorrow as on-chain becomes the present-day equivalent of the internet.
In the company’s Q3 earnings call, Armstrong says that blockchain and crypto are now transforming people’s lives just as the internet did about two decades ago.
On-chain is the new online. The Internet was and is a game-changing technology that redefined our modes of communication, business and social interaction. It broke down barriers, democratized access to information, and made knowledge universally accessible.
Blockchain and cryptocurrencies are revolutionizing the internet by bringing back decentralization and introducing a new concept: ownership. Unlike the traditional internet where you can only read and write, on the blockchain, you can also own digital assets.
This on-chain approach expands access to financial services and transforms how we think about identity, governance, artwork, and non-financial services.
Coinbase, a leading cryptocurrency platform, achieved a remarkable third-quarter revenue of $674.15 million in 2023, showing a growth of over 14% compared to the previous year. This figure exceeded the expectations of financial analysts, with a 2.67% increase above the estimated $656.61 million.
While Coinbase’s CEO, Brian Armstrong, is optimistic about the future of crypto, he highlights that regulatory clarity in the United States remains a significant challenge. He emphasizes the importance of obtaining regulatory clarity to further promote the industry in the US.
Coinbase’s stock (COIN) has been performing well, trading at $85.80 as of Friday, with a 12% increase since the beginning of the month.
