Coinbase Exec: ‘There’s No Playbook’ for Public Company Launching Blockchain

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As Coinbase, the big U.S. crypto exchange, plans to launch its new Base blockchain on Wednesday, CoinDesk interviewed Jesse Pollak, who’s leading the effort. By liqquidity

Generally, sequencer fees, we expect to not be the primary focus from a revenue perspective for the product. What we're really focused on is increasing utility, which increases the number of use cases that folks can do through Coinbase and increases the opportunity for Coinbase to provide easy-to-use, trusted experiences that we can monetize. We're not running the sequencer to make a bunch of profit. We're running the sequencer to enable innovation.

And so I think what you'll see is that for folks who are kind of more comfortable just getting in there and you know, living at the edge and doing their own research, they'll find ways to use Base. But for most people, they'll access Base through Coinbase, and Coinbase will continue providing a trusted interface, curated experiences. We have our ratings and reviews, which rates dapps, it rates tokens, it helps people understand what they are, what the risks are.

And I think if you look at the last five years, there's a lot of noise that's basically been created by tokens, where the incentives for developers and the incentives for users have been perverted. And rather than saying, Hey, we're using this thing, because it's the best product, it's no, we're using the same because we got X million-dollar grant or we got paid Y dollars for every action. And so I think we kind of wanted to say, Hey, let's just not.

 

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