Coinbase CEO Brian Armstrong believes that the most important use case for cryptocurrencies is their ability to provide a return to “sound money.”
The Need for a New Financial System
Armstrong argues that out-of-control money printing has led to rising inflation and economic inequality. This has created a need for a new financial system that is not subject to government manipulation.
Bitcoin as Sound Money
Armstrong compares Bitcoin to gold as a form of “sound money.” Like gold, Bitcoin is not backed by any government and has a fixed supply. This makes it resistant to inflation and a potential solution to the problem of economic inequality.
Other Use Cases
In addition to sound money, Armstrong also highlights other use cases for cryptocurrencies, including:
- Digitization of the US dollar
- Fast and cheap global payments
- Business models for creative workers
- A potential solution to centralized social media
Call to Action
Armstrong encourages Americans to support pro-crypto candidates in upcoming elections to ensure that the benefits of cryptocurrencies are realized.
