In an interview with CNBC, Coinbase’s CEO CEO, interpreted memecoins as an early signal in tokening of culture. Armstrong stated that these digital assets foresee that in the future will spread to different fields such as identity, votes and art.
Tokinization Expectations
Armstrong said Mececoins are not only fun crypto beings, but also a harbinger of a structure that allows artists to get payment from their works. He shared his opinion that this situation would lead to the transfer of each class of assets and digital content to the blockchain environment in the future.
“Memecoins are the beginning of a mechanism that will enable artists to receive the payment they deserve from their works. Everyone should be able to earn income by putting works. This area will be increasingly token and transferred to the network. ”
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Although the same things are theoretically said to the NFTs in 2021, we cannot say that no one cares about them today.
Market arrangements and concerns
CEO, the digital asset industry is in the early stage and existing in the current situation, said some deficiencies. Armstrong stressed that applications such as illegal transactions and insider trading are observed from time to time in the market and that these situations should be prevented by the necessary legal arrangements. Among the controversial developments, some statements of the Argentine leader also affect the image of the sector.
“Every crypto cycle seems to have no lessons from the past. Insider Trading should definitely be punished. ”
Armstrong stated that the digital asset sector is still at a stage that can be described as the wild West and added that this situation paves the ground for both innovative developments and risky practices.
While market actors are trying to develop long -term strategies on the update of digital assets and updating the financial system, the necessity of regulatory institutions should also follow the process closely.
While the follow -up of the developments is important in terms of the best evaluation of the potential created by digital assets, it has been suggested that the implementation of legal regulations in the process of maturation of the market will play a critical role.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
