BASE- Coinbase’s Layer 2 Blockchain

When Coinbase, a publicly-listed crypto firm with operations in 100+ countries and a leadership position in exchanges, wallets, staking, and custody develops a Layer-2 chain, the world is bound to take notice. The launch of Base has been met with love, respect, euphoria, jealousy, skepticism, and fear.

Behind Base is the ambition of attracting the next million developers and the next billion users.

Secret Masterplan

In 2016, Brian Armstrong (CEO of Coinbase) laid out a 4-phase vision in his “Secret Masterplan” for an open financial system that no single country or corporate could control

Phase 1 — Protocols like Bitcoin and Ethereum are invented and a community develops around them.

Phase 2 — Digital Currency Exchanges are created that serve as an on-off ramp and enable people to convert seamlessly from fiat to digital currency and vice versa. Revenues from this stage would be used to fund subsequent stages

Coinbase’s willingness to fight expensive court battles with the SEC and build L2s like Base indicates a willingness to spend exchange revenues on the greater cause

Phase 3 — Encourage adoption through better user interfaces. What browsers did for the internet and iPhones did for mobile, wallets would do for…