Coinbase Leader in the UK: Facebook, Central Banks are Crypto Catalysts, Not Enemies

UK CEO of Coinbase, Zeeshan Feroz, believes crypto market is better off with centralized entities like central bank digital currencies and Facebook supporting the industry.

Zeeshan Feroz, the CEO of Coinbase in the United Kingdom, has recently affirmed that the world needs centralized entities to support the crypto market. According to him, having support from important players such as Facebook and Libra is important if cryptos want to become mainstream.

One of the reasons why he has so much faith in central banks is because of the concept of CBDCs, which are cryptos created by them. To create something like this, in his opinion, would catalyze a lot more attention and adoption than people in Silicon Valley are able to.

He also sees the Libra as a way to reach adoption. According to him, the token would greatly popularize cryptocurrencies and they could all be benefited from it. Coinbase is currently one of the 21 companies that remain a part of the Libra Association, so it makes sense that the company has faith in Facebook’s new project.

Feroz defended the Libra when he was asked whether it could just work as a way to replace the government’s fiat currency system. According to him, you need centralized entities to form a “utopia”. Maintaining a relationship with banks and centralized companies is vital for the development of the network.

Before the utopia, he affirmed, it is vital to get help from wherever it comes. He did affirm, however, that it is important that some businesses continue to be decentralized, not everything needs to be centralized, just a few important actors that will help the crypto world to be more widely accepted.

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Gabriel Machadohttps://bitcoinexchangeguide.com/
Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

1 COMMENT

  1. “if cryptos want to become mainstream”? Is this guy delusional? How can he see cryptocurrencies not as a mainstream business right now, it's not 2014 anymore. Kids learn about blockchain in schools, I don't think that I know a single person who hasn't heard of Bitcoin even once. It's on the news, it's on the TV, it's everywhere, ATMs, exchanges, and it's not mainstream? Coinbase supports Libra because of one thing – they will pay them loads of money for listing their coin, and even if Coinbase will become the only exchange doing it, they won't give a damn. Since Libra has been announced, i can't find anything positive in this project. Glad that i've chosen decentralized exchanges or CoinDeal platform – because coinbase delisted digibyte, i had to find something else and tbh i've never been happier with experiencing exchange platform, because Coindeal helps their users trade – Coinbase doesn't…

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