In a new video, Coinbase CEO Brian Armstrong revamps the company’s ‘secret master plan’, which was first published three years ago.
In the initial report, published on September 7, 2016, Armstrong wrote,
“At Coinbase we are passionate about creating an open financial system for the world. By open we mean not controlled by any one country or company (just like the internet)…
We believe there will be four major phases (which we compare here to the internet).”
At that time, Armstrong believed the industry was nearing the end of phase two, with phase four marking the launch of several types of blockchain-based products and services including loans, remittances and merchant processing.
While the industry has progressed to phase four and Coinbase’s core strategy hasn’t changed – to create an open financial system that will increase the amount of economic freedom in the world – Armstrong says an update to the master plan is in order, given the many changes in today’s crypto landscape.
“This is one of the first times we’ve shared this with an external audience…
The vision for Coinbase is that we can actually bend this curve and materially change the economic freedom of the entire world by what we’re going to build.”
“Increasingly, even the poorest people in the world have access to the internet and smartphones. And they can now have a bank in their pocket. That’s really the opportunity. That’s the secret that Coinbase is founded on – the belief that right now, at this moment in history, because cryptocurrency got invented and everyone can have access to a smartphone, we can inject economic freedom into all these countries around the world.”