Brian Armstrong, the co-founder and CEO of Coinbase, recently shared intriguing crypto ideas he finds compelling amid the platform's involvement in multiple ongoing projects. Amidst the current bear market, Armstrong sees a unique opportunity for entrepreneurs to create groundbreaking crypto ventures with a lasting impact on the industry. Let's delve into the key ideas proposed by Armstrong.

1) Flatcoin

Armstrong emphasized the need for a flatcoin to address the limitations of using Bitcoin. He suggested a decentralized coin tracking the Consumer Price Index (CPI) as an opportunity for the crypto economy to advance significantly. Unlike volatile cryptocurrencies, a CPI-linked Flatcoin could offer stability and resistance to inflation, enabling smart contracts to maintain buying power and serve as a hedge against inflation.}

2) On-Chain Reputation

Armstrong advocated for leveraging the blockchain to track entity reputations, aiming to prevent fraud. He highlighted the absence of a reputation system associated with the Ethereum Name Service (ENS) and proposed a system similar to Google's PageRank to score blockchain addresses and ENS names based on transactions, enhancing trust.

3) Structure for On-chain Ads

While successful advertising models exist in Web2 companies like Facebook and Google, Armstrong noted the absence of a similar service in Web3. He suggested the need for an ad economy in Web3, where smart contracts reveal payment-related metadata for user interactions, fundamentally transforming how offerings are marketed to users.

4) On-Chain Capital

Armstrong proposed redefining how Web3 companies raise capital to democratize fundraising for the next wave of Initial Coin Offerings (ICOs) and startups. This concept aims to unlock entrepreneurial energy globally by providing a trusted way for startups to access funding.

5) Crypto Job Marketplace

Armstrong suggested creating a global marketplace for labor utilizing cryptocurrency for cross-border payments. This could facilitate easy earning opportunities for individuals worldwide, leveraging cryptocurrency's advantages in cost-effective cross-border transactions.

6) Layer-2 Privacy

Highlighting the importance of privacy in layer two solutions for scalability, Armstrong emphasized the need to bring privacy features to layer two solutions like Polygon and Aztec. While transparency is a feature in many cases, ensuring user privacy for most transactions in the economy is crucial.

7) P2P Exchange Fully On-Chain

Armstrong proposed a decentralized peer-to-peer (P2P) marketplace built on an auditable smart contract, complete with escrow, reputation, and dispute resolution features. This decentralized P2P exchange aims to enhance transparency and security in P2P transactions.

8) On-Chain Games

Armstrong envisioned on-chain games where players genuinely own in-game Non-Fungible Token (NFT) assets, creating real economies within the gaming sector. This move could unlock the full potential of the gaming industry.

9) Tokenizing Real-World Assets

The CEO suggested that tokenizing physical assets could enhance market liquidity by incorporating standardized metadata. Additionally, introducing debt to the blockchain could support decentralized ratings and exchanges.

10) Software for Network States

Armstrong proposed the development of software to assist with voting, governance, fundraising, and services for developing communities. This aligns with the concept promoted by Balaji Srinivasan, the former CTO of Coinbase.

Armstrong concluded by stating that many entrepreneurs would likely look back in five years, regretting not starting a crypto company in 2023. These insights precede the upcoming Coinbase Ventures Summit scheduled for October in Malibu, California. As the crypto industry evolves, these ideas may shape the trajectory of innovative projects and developments.

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