Coinbase is the biggest cryptocurrency exchange in the US.
They have a few different coins to trade, like Bitcoin of course, and Ethereum. But they still don't have Steem. And of course, a lot of Steemians want Coinbase to have Steem trading, because it will help to increase Steem's value.
You might have heard that Coinbase recently announced a new custodial service that will allow customers to hold large amounts of cryptocurrency safely with them. One of the coins that might be added is Steem. Cool. But we're not sure if it will be added, and they haven't announced anything about trading.
But I just found some evidence that Steem is on Coinbase's radar. In the video below, Brian Armstrong, CEO of Coinbase, answers a question about cryptocurrency adoption from the audience. He's very careful with his words, because he doesn't want to inadvertently give investment advice, which could cause him legal troubles. But it seems clear to me that he thinks blockchain based social media will be one of the first areas where mass adoption of crypto will happen. And the only blockchain based social media that I know of that is actually working and has users is Steem.
Here is a summary of what he said. The question starts at about 21:17 minutes into the video.
The early use cases are things like online crowd funding... games... new user generated content sites like Reddit, Facebook, Twitter equivalent, where instead of an upvote or a like button, you actually transmit a small amount of value. So, people who are creating content that's useful to others, they're actually earning money on this universal currency of the internet. So those are the kinds of use cases... that I think will take off first.
What do you think? Is he talking about Steem? Or is it some other blockchain based social media?
Let me know in the comments if you're on Steemit or another Steem based site. If not, get on Steemit and follow me @coolenglish to earn some Steem while you learn English.
Posted from my blog with SteemPress : http://www.kakkoiieigo.com/is-coinbase-ceo-brian-armstrong-bullish-on-steem/