Yesterday, Brian Armstrong, the CEO and co-founder of leading cryptocurrency exchange Coinbase, announced the new TV campaign in Washington DC organized by the company to promote the importance of digital assets for the optimization of the payment system.
In his tweet, Armstrong says that "crypto is the most important technology America has to update the financial system," adding that there is "lots of policy work to do to ensure America isn’t left behind." Coinbase’s CEO also shared a YouTube video, "Why Crypto with Brian Armstrong," with his Twitter followers.
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"The naive view of crypto is that this is some speculative asset that people are trading and they are going to lose their shirts. That is missing the forest through the trees," Armstrong claims in the video. Yet, he stresses that while the technology is still in its infancy, cryptocurrencies are already proving their effectiveness in many areas other than trading.
Armstrong also compares the current situation with cryptocurrency as well as the confusion and controversy surrounding this technology to the advent of the Internet.
The Coinbase CEO also emphasizes that "crypto is a technology that can update all kinds of financial products," rather than being a financial product itself.
Meanwhile, the link in the company’s video invites viewers to "learn more about what Coinbase is doing to work with regulators around the world, and join the conversation to shape the future of finance."
In all likelihood, the TV campaign will be used to support Crypto435, the project the crypto exchange launched earlier this March to provide US citizens with up-to-date information on current crypto policies and plans for regulating the industry. In addition, Coinbase wants crypto users to become part of the legislative process and make their voices heard.
435 represents the number of congressional districts in the US, while Coinbase aims to educate and guide every American citizen "to shape the policies and regulations that will impact crypto and Web3 for years to come."
"The crypto community has reached an important moment. Decisions being made by legislators and regulators in DC and around the country will impact the future of how we can build, buy, sell, and use crypto," Coinbase said in its February Twitter thread, explaining the need for "thoughtful policymaking and smart regulation."
The crypto exchange planned "to empower the Crypto435 community with information about how to contact specific politicians in their local districts, what those politicians' records on crypto are, tips for making your voices heard in DC, and more."
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While this initiative found many supporters among Coinbase’s users, some felt the company's approach to the execution of its plan was typical of Web2, especially the privacy policy. "Fix the privacy related to this [joining Community435] and allow us to participate without tracking and sharing information unless we explicitly request it," Twitter user Shane Pickens expressed a popular sentiment among Coinbase's users.
