In anticipation of the Coinbase Ventures summit, CEO of Coinbase shared his top ten concepts for blockchain projects that he thinks developers and entrepreneurs planning to work in the Web3 market in the foreseeable future should take a closer look at.
Brian Armstrong, CEO of crypto exchange Coinbase, shared his top ten ideas related to the cryptocurrency industry in the company’s blog. The entrepreneur believes that projects that rely on these ideas will have the greatest potential for development in the near future.
The top ten ideas for crypto projects, according to CEO of Coinbase, are as follows:
- Flatcoins. Decentralized stablecoins that are pegged to the inflation rate helping to preserve purchasing power. Such stablecoins, Armstrong believes, can be backed by a basket of assets or use an algorithmic approach.
- Reputation protocols. Decentralized systems that assign a score to crypto addresses or ENS names based on activity on the blockchain. Such services, similar to Google’s PageRank search engine metric, can be used for lending, rankings, and fraud prevention.
- Web3 ads. Personalized advertising protocols that operate on smart contracts and involve payments based on a user’s online actions (CPA), and not paying for click-throughs (CPC) or number of impressions (CPM).
- Protocols for capital raising. A concept that systematizes and simplifies the process of raising investment for blockchain projects, taking it to a global level and making it easier and more transparent. This is the next stage of ICO development.
- Job and task marketplaces. Decentralized platforms for finding employees, contractors, and performers for a variety of tasks. The main feature of the concept is globalization, which is achieved through the ability to pay for work using cryptocurrencies, that is, excluding all the weaknesses of traditional cross-border transfers.
- Privacy solutions for L2 networks. It’s worth noting that the segment of these projects in 2023 is one of the most actively developing in the Ethereum ecosystem.
- P2P platforms that are fully decentralized.
- On-chain games. The CEO of Coinbase notes the huge potential of this sphere and its strong connection with Metaverse technologies.
- Tokenization of real world assets. Many leading researchers agree with Armstrong. For example, Citigroup analysts forecast that the tokenized assets market will grow to $5 trillion by 2030.
- Software for decentralized management systems. For instance, for managing governance, individual innovative “startup cities,” or communities.
The entrepreneur summarizes that the bear market implies optimal conditions for creating and developing new Web3 projects; that’s why he decided to share his best ideas “with the hope that someone goes out and builds them.” He also reminds users about the Coinbase Ventures Builder Summit, scheduled for October 2023.
Coinbase is one of the biggest and most resilient cryptocurrency exchanges, as emphasized by a recent Glassnode study. However, the exchange still faces a legal battle with the U.S. Securities and Exchange Commission (SEC).
