They talked about users abandoning their private keys before starting to use the new system. They try to control more bitcoin "& bitcoin users" and then offer it to governments as before[1].
The patent cites the issue of customers being required to compromise on the security of their private keys
Also, this system is an update/gaming of the values, as all the currencies within it will be subject to coinbase admins.
We may also see the sale of fake coins just as happened with gold and dollar [bank loans].
[1]
Coinbase tells 13,000 users their data will be sent to the IRS soonThey are heavily working towards getting an exit strategy and finding a bigger company to overpay them. Facebook bought whatsapp for like 19 billion dollars,
I think it's even bigger, there are those who help them to take over the market