Coinbase CEO Brian Armstrong shared his vision for the concepts of the future hoping developers will attend the firm’s Builder Summit to work on them.
One of the first concepts he discussed was a “flatcoin” — a decentralized stablecoin that tracks inflation to preserve purchasing power, which could be backed by a basket of assets or use an algorithmic approach.
Armstrong cited services like Ampleforth and Truflation which"offer a way to potentially track inflation on-chain today, to further decentralize it." He said something like this was necessary because people are reluctant to spend Bitcoin and fiat-backed stablecoins"suffer from inflation and seizure — just like fiat money."
Another concept was “on-chain reputation” — a system that assigns reputation scores to wallet addresses orbased on on-chain activity. It would be similar to Google’s PageRank and used for lending, ratings, and fraud prevention. Armstrong also highlighted the potential of “onchain ads” — the Web3 version of adverts that would pay out based on on-chain actions as opposed to Web2 ads that are view or click-based. They could have smart contracts that can specify payouts and wallets that can choose which ads to show.
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