Why Coinbase Might Turn Out to be the Next PayPal-size Fin-tech Company
By Gua on ALTCOIN MAGAZINE
I’m not trying to sell you anything. I am simply open sourcing parts of my brain on this topic.
When Andrew Chen shared an article on his LinkedIn profile, he 100% agrees that Uber is the most likely company to turn out the next Elon Musk.
When I see that article, I have asked myself and want to ask you too that what is above the transportation(yes even flying cars and many good things for humankind) or housing/entertainment issues?
I believe the answer is Value exchange, Security, Verification.
But before I will tell you why, please allow me to discuss something important with you.
Yes, there are very few people who have a capacity to see the future.
Since most humans have a much easier time understanding what is, if you suggest that what they see is wrong, it’s very disconnecting and they hate it. because they are trying to understand their world and predict their future — that’s the main function of the cerebrum, to find the patterns and predict what is going to happen next — and insofar as they realize that the future to them is somewhat grey or even black, it’s scary. — James Currier, from Founders at Work.
When You Change the World and No One Notices — We are way ‘better’ conditions than this right now, right? For example, we have the power of big data and invisible manipulators of our mind, right?
Anaïs Nin put it so meaningfully that our perception is as much a result of what we are able to know as of what we expect to find is not new. Yes, people see what they expect to see.
So we as creators have a decision to make: do we want to be part of the 90% of noise out there, or do we want to be part of the 10% of signal? — Brad Frost
My question to you is this — what is needed to differentiate yourself from the noise, from those who don’t have a capacity to see the future and create a good impact?
The more time goes, the more better, cheaper, faster we can create wealth for people, with people and help them know more, right?
Organising the internet and MARKET RESET
While (And market reset) is the most important signal from his presentation for me, I totally agree to Benedict Evans on his well informative presentation from a16z’s annual tech conference that one of the keys on this is distributed, decentralized, permissionless network. You just have to stop here and watch the presentation.
I believe, if we want to succeed on this, things have to be based on native trust, value creation by the network with crypto payments. All of them are important layers under this new organizing layers.
So, why Coinbase?
Several days ago, Brian Armstrong shared with us that Coinbase is for everyone, Coinbase Pro is for experts and as a one-time wantrepreneur felt every good side from this article, such as the way B entrepreneur writes on Medium freely and on the other side how Coinbase move things fast for good.
My question is not what the next steps may well be for Coinbase, but what is actually endgame for Coinbase for next 20 years?
Till now, I talk myself to Twitter and when I have had a chance to ‘talk’ to Brian, bellow his tweet on a topic — Digital Currency Could Be Widely Used In VR, I ‘told’ him that yes, but maybe before VR & digital assets, we will have a market reset soon or later. And yes, reset highly depends on how Coinbase and other parts will invest on this movement.
I believe the answer to my question is that while Coinbase has already created a tool, now they have to integrate deeply in deferent small niche markets and scale up to create wealth for people, with people(Hey Chris Dixon).
For example, FOAM is next google map and logistical, location-data verification. *I don’t work for them and don’t know them personally.
To follow me on next steps, let me briefly explain to you what they are doing.
Shortly about FOAM: FOAM is bringing spatial tools and location standards to blockchain and smart contract technology. As an open source protocol any applications in the blockchain ecosystem can hook into and build on top of.
As for The Future of Proof of Location, they are committed to build spatial protocols, standards and applications that bring geospatial data to blockchains and can empower a consensus-driven map of the world. You need to imagine Point of interests, POIs as points on Google Map where you can register a point on a map with some minimum value, people can challenge it by voting and based on the voting results and your side, after the reveal, some right side will get the rewards. Interesting right? Learn this amazing new model, read their website. It is not complicated but has a high learning curve, yet.
So now let’s think with me why I think there will be a market reset.
- Next Yelp information will be submitted and will be challenged by the network over time. Every data point will have its value in crypto which will be owned by the network. Moreover, it will be like the next pattern of information value verification and filtration after 5+ starts and etc.
- Next Netflix (Netflix Technology Blog) will be what Kickstarter has done for traditional physical product building financing cycle. People, the network will be drivers and owners of Movies and TV series.
- Next Airbnb (AirbnbEng)homes will be verified, challenged and verified by the network, even the prices of the homes. Owners will gain value not only by renting but by owning a piece of information and claiming the value by the network that his/her information is correct and valid for that moment.
- And finally, Next Uber will be driven by the network and for sure the price will be lower for consumers but higher for drivers.
For sure only FOAM won’t and don’t have to build the future of proof of X. What if FOAM will build a solution for others to build the future of proof of Xs and help the main value of this to scale and be adopted by the world faster? Yes, they already are building tools/solutions for anyone to build on top of FOAM.
The future of organising the internet could be based only on FOAM, but it will be hard. Well, if it could be Coinbase and FOAM together, it will be less hard, or by anyone who will have the last mover advantage on this experience.
For sure you know X.com and Confinity story, right?
Even more, PayPal mafia united talents around the finTech right time and we know the end results. As it seems from the outside, Coinbase is doing the same. Endgame is 70%+ clear for me.
That’s my prediction with my capacity to see the future and endgame of things for this moment.
Yes, we have to talk another time about key layer for market reset — identity verification, because billions are still unable to prove their identity, and millions more have forms of identification that cannot be reliably verified or authenticated. (MissionBillion).
If you can advise or support me to know more, please contact me on LinkedIn
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