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1,000,000,000 People Will Engage in Blockchain Economy Within a Decade, Says Coinbase CEO Brian Armstrong

February 21, 2020

Brian Armstrong, co-founder and chief executive officer of crypto exchange Coinbase, says the number of people who engage with the blockchain economy will surge exponentially in the coming years.

The 37-year-old billionaire tells Forbes that humanity is destined for a “more global, more fair, more free and more efficient” financial system, and the 50 million people currently engaging with blockchain-based assets will rise to 1 billion over the next decade.

Bitcoin and blockchain technology are still hounded by scaling limitations and face harsh criticisms from the likes of billionaire Warren Buffett and economist Nouriel Roubini, and Armstrong admits there is much room for improvement in the cryptocurrency space.

He says there are potential solutions that can address the shortcomings of Bitcoin as a means of exchange for the global economy. These include utilizing the the king coin primarily as a store of value while creating new digital currencies for speedy transactions.

Coinbase is now one of the world’s biggest Bitcoin platforms, with more than $21 billion in assets under custody.

Its revenue is projected to top $800 million this year as it rolls out more products, including the world’s first Visa network-approved crypto debit card, and adds support for a rising number of crypto assets, including the recent addition of the Ethereum-based token Kyber Network (KNC) on Coinbase Pro.

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