Coinbase CEO Brian Armstrong has revealed his top ten ideas for the future of cryptocurrency. In a recent blog post and presentation, Armstrong expressed his excitement about these concepts and encouraged developers to bring them to life during the current bear market.
One of the ideas he discussed is the concept of a “flatcoin,” which is a decentralized stablecoin designed to preserve purchasing power by tracking inflation. This stablecoin could be backed by a basket of assets or utilize an algorithmic approach. Armstrong mentioned existing services like Ampleforth and Truflation that already offer ways to track inflation on-chain.
Armstrong also mentioned the idea of “on-chain reputation,” which involves assigning reputation scores to wallet addresses or ENS names based on on-chain activity. This system could be used for lending, ratings, and fraud prevention, similar to Google’s PageRank algorithm.
Additionally, Armstrong highlighted the potential of “onchain ads,” which are the Web3 version of advertisements. Unlike traditional Web2 ads that rely on views or clicks, onchain ads would pay out based on on-chain actions. These ads could utilize smart contracts to specify payouts and allow wallets to choose which ads to display.