JAKARTA - One of the giant crypto trading companies from the United States, Coinbase, recently revealed that it is time for this new industry to take over the traditional financial system.
American financial institutions have used outdated technology discovered before the internet era. The thread was accompanied by a photo upload of the Washington Post newspaper containing a Coinbase ad titled Time to Update Systems
Coinbase made the statement in a new Twitter thread Coinbase emphasizing the great potential of cryptocurrencies in terms of inflation hedging, sending cryptocurrencies, and providing efficient humanitarian aid.
According to Coinbase, crypto technology can provide much-needed stability in countries experiencing hyperinflation like Venezuela. They also note that stablecoins like USDC can be a more stable alternative option in the face of inflation.
Coinbase also stressed the importance of the United States to put itself on the forefront of crypto technology adoption. The company believes that countries that make reasonable laws will become industry leaders. Coinbase mentions several countries such as Britain, the European Union, and Japan that have imposed regulations aimed at protecting users while enabling innovation. The United States, according to Coinbase, should do the same.
The widespread crypto adoption has begun, and countries that make reasonable laws are positioned to become industry leaders, Coinbase said. They also say that crypto technology can help renew old financial infrastructure and provide American customers with more financial freedom and new tool institutions to encourage innovation.
While some crypto companies chose to go abroad to circumvent US law, Coinbase chose to build in America and encourage innovation in existing regulations. Coinbase is committed to becoming part of the solution in updating our financial system.
Responding to Coinbase's tweet, a Twitter user with the account name "cryptodonkus" said that crypto does have great potential in providing stability and hedges for inflation, but it takes a lot of time to be widely accepted by the public.
"I think crypto adoption in exchange for fiat will take a few more years. Crypto should become easier for ordinary people to use," he wrote.
With so much potential held by crypto technology, it is important to observe whether the United States can take a step forward in the adoption of this technology. Therefore, Coinbase maintains a consistent position in encouraging the innovation and adoption of crypto technology in the United States.
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