Coinbase CEO seeks inspiration from Apple for plans to create a crypto app
by: Dynasty GI2021-06-29
The CEO of the crypto exchange Coinbase, Brian Armstrong, announced plans to launch an app store that will offer decentralised apps built by third parties.
In a post published on the 29th of June, Armstrong said he has sought inspiration in Apple’s successful concept which created an app ecosystem around its App Store.
The idea is to allow any app built on decentralised crypto digital infrastructure to be accessible to the crypto exchange’s users by integrating a customer’s wallet with their identity. “There are now tens of billions of dollars of economic activity running on dApps. We will work to give our users easy access to all of this from the main Coinbase product”, said the Coinbase co-founder.
"“This proposed move by Coinbase will make dApps easier for crypto investors to use and highlights the kind of revolution we are seeing with blockchain technology being applied to digital finance”, commented Dynasty Global Investments AG’s co-founder and CEO, Eduardo Carvalho."
There are already thousands of decentralised or distributed apps, known as dApps, which get processing resources from a pool of computers around the world and operate on a blockchain. In the announcement, Brian Armstrong did not state when Coinbase plans to start running is proposed app store.