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“I decided to share ten top ideas in the hope that someone would take them up and bring them to life,”<\/em> he said.<\/p>\n
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The executive expressed hope that the initiative would inspire developers amid the bear market.<\/p>\n
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\\n<\/p>\nSource: Coinbase.<\/figcaption><\/figure>\n<\/div>\n \\n\\n\\n<\/p>\n
One of the concepts mentioned was flatcoins \u2014 decentralized stablecoins that \\”track the rate of inflation\\” to preserve purchasing power. A coin may be backed by a basket of assets or use an algorithmic approach.<\/p>\n
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As examples, Armstrong cited Ampleforth and Truflation.<\/p>\n
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According to him, something similar is needed because people are reluctant to spend Bitcoin, and fiat-backed stablecoins \\”suffer inflation and confiscation \u2014 just like national currencies.\\”<\/p>\n
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Another noteworthy concept is on-chain reputation. The term refers to a system that assigns scores to addresses or ENS<\/a> based on on-chain activity.<\/p>\n
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In terms of applications, Armstrong cited lending, rating, and fraud prevention. He compared on-chain reputation to PageRank \u043e\u0442 Google<\/a>.<\/p>\n
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Armstrong also pointed to the potential of Web3<\/a> advertising, which would be paid based on on-network activity. This would distinguish it from the Web 2.0 version, based on views or clicks. On-chain advertising could operate on smart contracts that set payments and wallets. The latter would be able to choose which videos to show, he explained.<\/p>\n
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On-chain fundraising also featured in Armstrong\u2019s list of ideas. This concept democratises fundraising, helping the next generation of ICO projects and startups raise money on the blockchain in a manner compliant with regulatory requirements.<\/p>\n
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Armstrong also expressed hope for the emergence of crypto job marketplaces and on-chain tasks. A platform could help people find work worldwide with payments in digital assets, without cross-border settlement issues.<\/p>\n
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Among other proposals:<\/p>\n
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- privacy-enhancing solutions for L2<\/a>-networks such as Aztec, Polygon, and zkSync;<\/li>\n
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- a fully decentralised P2P platform for exchanging cryptocurrencies for fiat and back;<\/li>\n
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- on-chain games;<\/li>\n
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- real-world asset tokenisation solutions such as Goldfinch and Centrifuge.<\/li>\n
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In conclusion, Armstrong invited developers to the Coinbase Ventures summit. The executive suggested that some teams could secure funding from the venture arm.<\/p>\n
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In March, Coinbase named<\/a> priority directions for developing the Base ecosystem, among which flatcoins were mentioned.<\/p>\n
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