Coinbase, the leading crypto-currency exchange in the United States, held a virtual staff meeting to inform your employees about the strategy of the company during the Covid-19 pandemic.
During the meeting, CEO Brian Armstrong said that Bitcoin for the kind of crisis that the world is currently facing is how to created. Satoshi Nakamoto is the main motivation for the creation of the BTC, was the creation of a new financial system with greater resilience.
The good news is that Bitcoin for this goal was created… Bitcoin is amazing – it is global, it is inflation protected, it is digital. It is the money that people need in this Moment.
Armstrong further stated that the United States and the governments around the world to promote the massive expansion of the money supply in their countries with stimulus packages and bailouts in order to combat the economic consequences of the pandemic.
As well as every sector of the economy has really difficulties. The people in the manufacturing sector do not want to go into the factories, if you do not create social distance, and the retail sector has been decimated. Traveling is really a Problem. It may even be that some of these investment banks must be saved, so that it is in some ways an incredible happiness that we can work as a technology company at all, because almost every sector of the economy really has problems.
So what does this mean in practice? Now, if you put a bunch more money in the Ecosystem, and the number of Goods increases due to the slowing down of the production really, it means that with time, higher prices will arise. Basically, there will be Inflation. And if that happens, try the people to look for alternative investments, which are inflation-protected, which is basically a guaranteed scarcity is baked in. So this is a great case for Bitcoin, and also for other asset classes – real estate and such things, which represent a hedge against Inflation.
Armstrong likened the current state of crypto-currencies with the inception of the Internet.
Crypto goes through all these growing pains. It must be scalable. He needs to be for the average person, more usable, and we will bring it to 100 million and one billion people, and that is the infrastructure that provides Coinbase really ready.
The CEO says the company’s Vision is to create economic freedom “for every human and every company out there”.
Economic freedom means sound money for all. It means property rights. It means free trade. It means that you can work in the company you want to work, that you can establish the company that you want to reasons… We will be using in this unique Moment in the history of crypto-currencies, to a more open financial system that creates the people around the world, economic freedom.
Coinbase is planning the next Phase in the global financial system through three major steps: firstly, by further facilitation of crypto-investment, and secondly by the connection of the crypto-Economy to each other, and, thirdly, through the promotion of the growth of the crypto economy in a big way with the support of various projects. In view of the rapid changes and turmoil of the outbreak of the Coronavirus brought, must be subdued in the short-term expectations, according to the CEO, however:
There is a new top priority … you and your families should get priority in safety. This is the top priority. And we also need to make sure that we can get during all of the “business as usual” is maintained. Some of our ambitions, by 2020 we will need to screws in the face of this new reality, maybe a little.
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