Global Transition to Cryptocurrencies update - Coinbase Analogy to Amazon

in cryptocurrencies •  last year  (edited)

Global Transition to Cryptocurrencies update - Coinbase Analogy to Amazon

 
Global Transition to Cryptocurrencies update posts  
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Global Transition to Cryptocurrencies update - Coinbase Analogy to Amazon

Global Transition to Cryptocurrencies update - Coinbase Analogy to Amazon

Cryptocurrencies are replacing fiat currencies. The global transition to cryptocurrencies from fiat currencies as the primary means of financial exchange will progress over the next few years.

I recently resteemed two videos from Bitcoin Ben. On 12 Apr, I resteemed "Bitcoin Ben | Charlie Lee is the Sam Walton of #crypto." On 15 Apr, I resteemed “Bitcoin Ben | Do you see what Coinbase is building?”

In this article, I will organize some of the content in those videos and add some of my own ideas.
This is part 3 of 4.

3
Coinbase Analogy to Amazon

Coinbase announced acquisitions of a few more companies. Who is Coinbase? The Digital Currency Group owns part of coinbase. Who is the Digital Currency Group? NASDAQ owns the Digital Currency Group. So, Coinbase is creating a corporate structure that resembles NASDAQ somewhat. To take that to the next step, Coinbase is building a structure that is not only an exchange, but also a pay outlet for plugins used by corporations.

Coinbase is setting itself up to become the Amazon of cryptos. One future step is indicated by the fact that Coinbase has announced that it will implement ERC20 tokens. This will help to take another step. The only area in which Coinbase is not yet involved is lending. Lending is the primary feature of the SALT network. SALT is an ERC20 token. If Coinbase incorporates SALT and if it partners with the SALT company, this would be a critical step in the setup to become the Amazon of cryptos.

This business trajectory reminds me of the time when Quicken introduced Quicken loans. Quicken started off as a financial tracking software. Over time, Quicken accumlated more funds. More importantly, Quicken developed strategic contacts. After a while, Quicken launched Quicken loans.

Back at the ranch, what evidence can we see that might suggest that Litecoin might have an interest in cooperating with SALT? SALT is run by Eric Vorhees. Eric Vorhees and the CEO of Coinbase are friends. Eric Vorhees is associated with the Digital Currency Group, the group who owns part of Coinbase. Business is more about relationships than anything else. Charlie Lee of LItecoin has been establishing relationships.

 
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