Cryptocurrency's Users will reach 1 Billion People in the Next 5 Years: Brain Armstrong

Brain Armstrong

Coinbase Chief Executive Officer, Brain Armstrong said the number of people in the cryptocurrency ecosystem to grow from the current 40 million to 1 billion in the next five years, reported by TechCrunch on September 7.

During the response to a question about cryptocurrency's international outreach at TechCrunch Disrupt in San Francisco, Armstrong projected that the crypto ecosystem and the total number of digital currencies will grow substantially, attributing the growth to commercial organizations which develop their own tokens. The tokens would reportedly function together with equity as an alternative investment system.

"It makes sense that any company out there who has a cap table should have their token, every open source project, every charity, potentially every fund or these new types of decentralized organizations [and] apps, they're all going to have their tokens." Armstrong said.

Addressing the issue of regulation as one of the crucial factors for implementing his vision, he called it "a big open question," and noted that it remains to be seen whether the majority of tokens will be recognized as securities.

"We do feel a substantial subset of these tokens will be securities." he said. " Our approach has always been to be the most trusted [cryptocurrency exchange] and the easiest to use. So we want to be the legal compliant place where you can start to trade these tokens that are classified as securities."

Coinbase is one of the world's largest bitcoin and altcoin exchanges by trading volume. They have only recently entered the U.K. markets to tap the growing crypto-user base in the country. Previously, it had been working actively in the U.S. and Europe, and it has amassed over 13 million users to date.

 Armstrong plans to expand Coinbase to more global territories. They have recently announced their plans to open new offices in Africa.

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