Coinbase CEO Claims 2020s Will See Anoncoin(s) Go Mainstream

Brian Armstrong who is known as the Coinbase CEO claims that the 2020s will see the “privacy coin” Anoncoin going mainstream. The founder of one of the largest exchanges in the world published a post on Coinbase’s official blog on January 3, where he explained why he believes that the next decade will see an integration of privacy features into one of the major blockchains.

The Coinbase CEO claims 2020s will be a period where privacy coins are starting a new era and foresees a cryptocurrency with such features to go mainstream in the years to come.

“Just like how the internet launched with HTTP, and only later introduced HTTPS as a default on many websites, I believe we’ll eventually see a “privacy coin” or blockchain with built in privacy features get mainstream adoption in the 2020s,” he wrote in the blog post.

Armstrong’s predictions are very interesting in the Coinbase news now, given the recent crackdown on all the privacy-focused coins and the apparent consensus that privacy should be one of the main focuses of Bitcoin (BTC) development.

In March this year, we also saw the head of the Finance Committee of France’s National Assembly proposing a ban on the so-called anoncoins. In May, the Japanese exchange Coincheck delisted four privacy coins and the Japan Virtual Currency Exchange Association recommended the members to do the same.

All of this makes the Coinbase CEO claims about the privacy-focused cryptocurrency surprising. When it comes to the integration of the privacy features in major blockchains, some argue that the process has already started. As major media outlets reported in June this year, many fear that Bitcoin’s increasing anonymity may be a threat to the anoncoins.

The blockchain news also show that Blockstream recently published test code for using Schnorr signatures on the Bitcoin blockchain in February 2019, aiding with the privacy on the network and also increasing the scalability. The discussions about possible implementation are ongoing, reports show.
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Furthermore, the Coinbase CEO claims that the majority of the world’s billionaires will come from the cryptocurrency space in the 20s. “My friends Olaf Carlson-Wee and Balaji Srinivasan estimate that at a price of $200,000 per Bitcoin, more than half the world’s billionaires will be from cryptocurrency,” he noted.