Inflation in 2022 destroyed the economy and cryptocurrency in subtle and in major ways. This year Coinbase brought a plan to rescue and survival plan in the world of cryptocurrency.
This is more important than ever they believe. This could be a survival guide to any future monetary problem or disruption. These flat coins are seen as the most critical innovations. This might be built on a recently launched network base, layer-2. Apart from this, there are also three reputation systems that exist. Which would make the ecosystem safer.
Coinbase Might Be Able To Track Inflation Before Economy Fall
After a month they disclosed this Coinbase is secured by Ethereum. Which is also powered by layer-2 network optimism. The inflation destroyed the economy perhaps Coinbase is working as the life jacket while you are in the middle of the ocean. After what happened to Silicon Valley Bank, they would do wonders in the banking business. This is an inflation-tracking coin that would be able to negate any type of monetary problem in the near future. Coinbase would track rate inflation and enable each user to purchase stable power.
There is a possibility this flat coin would keep a track record of U.S. living expenses, by tracking the consumer tax index and inflation data. The exchange is keeping the gaps empty to fill the space with volatile cryptocurrencies.
The investor of Coinbase Ray Dalio has approved of it as well. This would possibly keep track of consumers burning power. They can also save and put the money in over a certain time. They will be able to transact anywhere in the world.
The exchange’s maker has urged developers to look into making an on-chain reputation. Thus a system that would be establishing an on-chain trust between users. This would be beneficial for Coinbase and the user. Making it a friendly environment. For Coinbase to improve its database more insurance protocol is needed.
