During a Coinbase open house session, Coinbase CEO Brian Armstrong took an opportunity to talk about blockchain technology and how it can promote financial inclusiveness and an open financial system. Armstrong expressed a commitment on the behalf of Coinbase to ensure that the blockchain sector be led by the reputable company into the mainstream with the ultimate goal of getting more than 100 million people using cryptocurrency on a regular basis.
Investing in infrastructure
To accomplish Coinbase’s goal, they plan to continue to commit funding to their incubation program, Coinbase Ventures. This program encourages the growth of industry blockchain adoption by fostering companies that seek to bring cryptocurrency mainstream. Armstrong has acknowledged several times the need for more companies than just Coinbase to step up and lead the mass adoption of cryptocurrencies, or the industry as a whole faces failure. While Armstrong and Coinbase obviously focus on the financial sector and compliance, they have invested in dozens of companies aimed at all sorts of applications that blockchain technology would be a good fit for.
As the industry moves forward and begins to understand what it will take for blockchain tech to become mainstream, many look to Coinbase to continue being a leader and encouraging startups to apply for their incubator program. Coinbase has been the leading name in Bitcoin and blockchain technology since the drastic rise of cryptocurrency prices that was driven in part by Bitcoin reaching pop culture and the easy way that Coinbase provided for people to buy and spend cryptocurrency.