NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?

Coinbase COO: Crypto is Enabling the Creation of Internet 3.0

Davit Babayan
Davit Babayan
1 year ago
3 mins read
Crypto

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The financial technology emerged from the underlying protocol of a crypto could be just the thing internet 3.0 is all about, believes Asiff Hirji.

The president and chief operating officer of one of the largest regulated U.S. crypto exchange Coinbase put crypto technology at the forefront of the next internet revolution.

Speaking at the latest Money2020 conference in the U.S., Hirji said that the next wave of innovation could witness the launch of many amazing companies that would solve two of the most significant problems of the internet today: money and privacy.

“We are on the cusp on internet 3,” he explained. “We went from mainframe computing to distributed computing and created lots of value and amazing companies. Then, we went from distributed computing to cloud mobile – another wave of innovation, another wave of great companies being created. We are now creating a decentralized web.”

Defining a Decentralized Web

The term decentralization describes the state of being distributed while retaining a combined control over the system. It is more like a bottom to top approach, in which a system is governed by a protocol created and enforced by its limited number of actors.

Bitcoin, for instance, became a prime example of a decentralized financial network. It is run by a protocol called blockchain, a chronologically-arranged chain of blocks containing information. In the case of Bitcoin, the info is mostly transactions.

A single authority does not govern blockchain itself. Instead, it is run by a large group of miners that offer their computing power to record transactions on blocks. Therefore, the probability of data tampering becomes close to impossible as each miner keeps an eye on the rest of the miners. In return, miners receive Bitcoin tokens as rewards which, like Gold, can be traded over-the-counter (OTC) or online crypto-exchanges.

Similarly, web decentralization also highlights a vision of a network that is genuinely peer-to-peer like that of Bitcoin. That said, this new internet should not require servers to run. Instead, it would need end-users to lend a part of their computing powers to run the entire network, making web 3.0 more autonomous than its predecessors.

In its current format, the internet has become a highly controlled environment. It is now in the hands of a few players that creates the risks of data tampering and hacking. It also allows governments to misuse their power by putting their citizens under surveillance and impose censorship. Then, there are privacy issues that enable central authorities to steal, as well as sell users’ data to other bodies for monetary benefits.

“We’re on the cusp of internet 3.” Watch @coinbase COO @asiffhirji explain how crypto is enabling the creation of the decentralized web at @money2020. “This will solve the two biggest problems with the internet today.” pic.twitter.com/Ek9hywE0Mk

— Coinbase 🛡️ (@coinbase) November 28, 2018

“Internet 2.o didn’t take privacy seriously enough, which is why you and I and everybody else use these internet services for free,” said Hirji. “They mine all the data from us, and they turn us into products and sell us to advertisers. That’s the internet model of today, and it doesn’t have to be that way.”

Related Reading: Coinbase Launches OTC Platform, Clients Still Bullish On Crypto

Web decentralization is one of the most potential applications of the blockchain protocol. There are already companies in the space that is attempting to build the said solutions. Protocol Labs, for instance, launched Filecoin in August last year after raising $205m for a decentralized storage project.

Nevertheless, the real potential of blockchain remains untapped due to issues related to scalability and interoperability. A centralized system is more likely to process requests and become adoptable than a decentralized one, which is why a separate digital ledger space is working sideways to find solutions for such problems.

Hopefully, there will be.

Featured image from Shutterstock.
Tweet123Share299ShareSend
Davit Babayan
Davit Babayan

Davit Babayan

Davit Babayan is an Armenia-based expat balancing the academic life of a software design engineer with the experiences of a financial technology journalist. He aspires to be a full-time columnist and wants to write a book that would be called, "A Homeless Who Found Bitcoin."

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Dogecoin

Dogecoin Remains In The Green As This Historic Indicator Still Points To Gains

Dogecoin remains in bullish territory, with key technical indicators indicating further upside potential. Despite recent market fluctuations, the meme coin...

Godspower Owie 3 hours ago
Bitcoin

Metaplanet Snaps Up 5,419 BTC, Becomes 5th Largest Corporate Holder

Metaplanet, a Japanese public company, bought 5,419 Bitcoin in a single purchase and climbed into the ranks of the world’s...

Christian Encila 4 hours ago
crypto

More Than 6 In 10 Use Crypto For Passive Income, 46% To Beat Inflation – Study

According to MEXC’s H1 2025 user survey, nearly half of users now say they turned to crypto to protect against...

Christian Encila 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

迷因幣回檔 Snorter Bot Token 持續捕獵新機會 ICO 募資已破400萬美金

estherw 57 minutes ago
Solana

From Store Of Value To DeFi Powerhouse: Solana Unlocks Bitcoin’s True Utility — Here’s How

Godspower Owie 57 minutes ago
Crypto news

Crypto Bloodbath Shakes Market—But Is The Real Storm Still To Come?

Jake Simmons 1 hour ago

Premium Sponsors

Press Releases

  • 5 mincí, které by v kryptobublině v roce 2025 mohly dosáhnout 10 miliard dolarů

    5 mincí, které by v kryptobublině v roce 2025 mohly...

    7 hours ago
  • 5 érme, amelyek 2025-ben elérhetik a 10 milliárd dollárt a kriptobuborékban

    5 érme, amelyek 2025-ben elérhetik a 10 milliárd...

    8 hours ago
  • 5 monet, które mogą osiągnąć 10 miliardów dolarów w bańce kryptowalutowej w 2025 roku

    5 monet, które mogą osiągnąć 10 miliardów dolarów w...

    8 hours ago
  • 5 монети, които биха могли да...

    8 hours ago
  • Pet kriptovaluta koje u kripto balonu 2025. mogu dosegnuti tržišnu vrijednost od 10 milijardi dolara

    Pet kriptovaluta koje u kripto balonu 2025. mogu dosegnuti...

    10 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.