Coinbase Exec Defends Cryptocurrency Against Skepticism

Coinbase's Chief Policy Officer Faryar Shirzad has responded to recent criticism of cryptocurrency, drawing parallels between the current skepticism and early doubts about transformative technologies like the internet.

Shirzad argues that emerging technologies often face initial skepticism before finding practical utility. He cites historical examples such as the internet, personal computers, and smartphones, which were initially dismissed as novelties but ultimately transformed global systems.

The Coinbase executive highlights significant institutional adoption milestones, including Visa's use of stablecoins for interbank settlements and BlackRock's tokenization initiatives. These developments demonstrate how cryptocurrency technology is evolving beyond its original monetary applications to support traditional financial systems.