Brian Armstrong: To adopt cryptocurrencies, we must reduce their volatility

The head of the Coinbase cryptocurrency exchange, Brian Armstrong, believes that in order to take digital assets, it is necessary to reduce volatility, as well as to improve the scalability and use of coins.

According to Brian Armstrong, the strong volatility of the cryptocurrency market scares off large investors, who are used to investing in traditional financial institutions, so the industry needs more stable prices.

In addition, he noted that most developers are now engaged in solving the problem of network scalability. For example, Lightning Network created for Bitcoin, which allows you to transfer funds quickly and cheaply. If it is possible to increase the number of transactions to 5,000 per second, the Bitcoin blockchain will be able to compete with Visa and PayPal systems.

As for the use of cryptocurrency, then, according to Armstrong, now the user has to take too many unnecessary actions to make the transfer. If the process could be simplified, for example, as it is done in the WeChat application, it would spur the adoption of digital assets.

The entrepreneur said that he still loves Bitcoin and wishes it success. However, he said that he no longer favors any particular coins, but wants the success of the entire cryptocurrency industry. Earlier, Brian Armstrong said that the stock exchange's custodial service has a success, and more than $ 500 million has accumulated on the company's accounts.