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Coinbase
4 min readJun 5, 2021
- Goal of company- Take cryptocurrency out of Silicon Valley and onto Wall Street
- Bitcoin’s characteristics make it a direct competitor to the central banks because of its absolute scarcity, resistance to theft and confiscation and the system that it is built upon prevents it from being shut down
- Similar to gold and silver, it is not regulated
- the point of bitcoin is that there are no price controls or surpluses or shortages and it can become a world currency
- Own bitcoin without controlling a private key
- Acquire bitcoin simply by providing a bank account number, no overseas wire transfers, no intimidating mathematical strings, just a basic web site
- Low transaction costs and reduced risk of fraud
- Hedge against recession
- Thanks to etherum a blockchain could be more than a digital currency. It is now a one stop shop where people could sign contracts over anything from sports wagers to investment agreements to data storage.
- Instead of lawyers use computers to take care of executing contracts
- Etherum uses Solidity for anyone who wanted to build applications on top of it
- Example- Vermont tested putting land titles on blockchain
- Instead of relying on fidelity or vanguard, investors could create an automated service on etherum to invest and pay out funds according to the terms of a smart contract