There are many reasons why someone may become interested in Bitcoin. Some are mesmerized by the technology’s pseudonymous creator, while others simply like the idea of having a completely open payment network for the entire globe. Although it’s easy to become captivated by what Bitcoin has to offer, it is difficult for many individuals to fully understand the specific areas of daily life where Bitcoin may be useful.
Coinbase has been one of the main drivers behind the adoption of Bitcoin in the mainstream, and CEO Brian Armstrong sees three areas where Bitcoin can be most useful right now. For Armstrong, disrupting traditional financial services, bringing digital financial services to people who don’t already have them, and enabling completely new Internet applications are the three areas where the cryptocurrency can be the most useful right now. The Coinbase CEO expanded on these thoughts in a recent episode of the a16z Podcast with Wall Street Journal Columnist Christopher Mims.
Disrupting Traditional Financial Services
Armstrong’s first area of focus when discussing Bitcoin’s usefulness had to do with traditional