TechFlow news, Coinbase founder Brian Armstrong recently stated at a Goldman Sachs conference that decentralized payment protocols based on Ethereum have achieved breakthrough progress, with transaction confirmation times reduced to under one second and fees as low as $0.01. He emphasized that this makes cryptocurrency currently the best global payment channel, uniquely combining speed, low cost, and global accessibility.
Brian Armstrong pointed out:
- Clear advantages of crypto payments: Compared to traditional methods such as credit cards (fast but expensive), ACH transfers (cheap but slow), and WeChat Pay (fast and cheap but geographically limited), crypto payments offer comprehensive superiority.
- Surge in stablecoin volume: These advantages have driven annual growth in stablecoin transaction volume by 200%–300%.
- Broad potential applications: A fast, low-cost global payment system could fundamentally transform social media interactions, salary disbursements, and even eliminate the need for financial products like payday loans.
- New engine for economic growth: A decentralized global financial system has the potential to significantly reduce economic friction and drive overall growth.
He predicted that just as free text messaging revolutionized communication, crypto payments will trigger a new wave of transformation in finance, potentially leading to an order-of-magnitude increase in transaction activity.
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