Brian Armstrong: Coinbase – not financial or technological, but cryptocurrency
According to the head of Coinbase, which quotes the website of AMB Crypto, the question of the nature of the company was affected by the employee of the grounds during the meeting of leaders from team members. Brian believes that the company is a combination of aspects of technology and Finance.
The technological side includes technical design and production of products. This includes the advantages of technology companies, like free Lunches, Kombucha for employees, etc. Now Coinbase is looking for staff in the environment of many top technology companies.
The financial side of cryptocurrency exchanges enables sustainable compliance and legal teams. The company carries out regular interaction with governments and regulatory authorities. In addition, according to its CEO, the company is expanding its base in new York and London that he believes the global financial centers.
Armstrong said that Coinbase will always be a combination of technology and Finance, however, if the question arises about the choice of identity, it is likely the company will call themselves technological. The reason, according to Bryan, is simple:
“In today’s world, technology is a source of many innovation and growth. How many financial companies among the organizations, change the world for the last twenty years? We will be able to succeed competing against solid players coming in this area if we, first of all and first, a technology company”.
Armstrong also added that Coinbase – not technological and financial services company, by and large. He said
“We are something different and new: a cryptocurrency company.”
This position is due to the fact that Coinbase, according to its head, dissatisfied with the shortcomings that are present in both industries. However, Brian says that Coinbase, while maintaining healthy conservatism, does not want to compete with the companies risk tolerance. It does not intend to act destructive. Armstrong believes that such a course of action inappropriate for the company, which operates with the “money people.”
Moreover, in a recent series of tweets, the head of Coinbase described the mission of the exchange. According to him, it is the establishment of an open financial system, which will give the opportunity to everyone. The company aims to help more people to start working in the cryptocurrency space.
Tool mass distribution of the cryptocurrency is a payment system that will facilitate transactions between cryptocurrencies and Fiat money. Armstrong added that already there are companies creating products decentralized, cryptocurrency exchanges do not work with Fiat, and applications, including products such Coinbase, as Coinbase Pro, wallet Coinbase Coinbase Prime, Custody and others.
The head of the company said:
“All of these products and services will get more widespread if people will facilitate the conversion of their local currency to crypto. The possibility of converting the open to the masses completeness of the decentralized capabilities of the Internet.”