Brian Armstrong: evaluation

Transcript context

…As you know, central banks have started talking about doing electronic reserve currencies. China might be the first to do this. Sweden and Singapore have at least raised the idea. Do you view that as a competitor to crypto or something crypto can somehow build upon or work with, a complement of crypto? I think of central bank digital currencies as primarily complementary to crypto. On the one hand, it’s a great endorsement of this technology that central banks are starting to look at it, and they are showing that there’re things that they want to go build with it. On the other hand, to me, the thing that’s more exciting is really these decentralized cryptocurrencies because if we want to use centralized or fiat currencies, we can do that today. And sure, blockchain might be able to improve some of the efficiencies around that, like interbank settlement, or maybe foreign exchange, or something like that. By the way, China is, I think, very far ahead on this with the digitized yuan, but the more exciting thing for the world is to have this global decentralized currency. It’s like if a country came up with their own private internet. I’m more interested in the global decentralized internet. I think that unlocked more innovation. But if I could access an electronic reserve currency? Again, black and gray market aside — that I understand. Why, for instance, would I want to use a stablecoin when I have some other system of direct digital transfer that I can just do?…

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