A strongly held goal of core builders within the crypto industry has been to build solutions that brings everything on-chain.
This year, we've seen significant institutional interest in bridging over numerous traditional assets to the blockchain ecosystem, a move that brings us closer to the fundamental goal of bringing the world on-chain.
That said, the concept of "putting it all on-chain" hasn't yet been completely understood by most putting. Usually, this is thought to mean simply bringing regular finance on-chain, but this has never been the case.
The decentralization of regular finance is only the first step, the ultimate goal is to bring the world to a point where literally everything, functions through blockchains, in one way or the other.
Transport systems, entity managements, political governance, governance within companies, both private and publicly held, everything that formerly relied on centralized traditional systems, coming on-chain to be improved.
Coinbase’s plans to bring startups lifecycles on-chain is set to be one of many demonstrations of what is really possible with blockchains.
Coinbase CEO Brian Armstrong has outlined an ambitious plan to move every stage of a startup’s journey, from incorporation to fundraising and public trading, onto the blockchain.
Speaking on the TBPN podcast, Armstrong described his vision for an onchain lifecycle where founders could incorporate their startups, raise seed rounds, receive instant capital in USDC and eventually go public through tokenized equity.
You can imagine this whole life cycle coming onchain,” he said, adding that such a shift could “increase the number of companies who go raise capital and get started out there in the world.
Armstrong said startups will no longer need banks or lawyers to handle global transfers, as funding can be raised instantly through onchain smart contracts. Once capital arrives, founders can start generating revenue, accept crypto payments, access financing and even take their companies public directly onchain. – Cointelegraph report
At the core, crypto and blockchain changes how we perceive, access and leverage capital. By bringing startups lifecycle on-chain, Coinbase brings what was previously gated to an open market, enabling more people access early opportunities to invest in builders that look to deliver solutions that make an impact.
Opportunities that were previously set aside for accredited investors, keeping out broad retail capital, will now be accessible to said capital.
One of many things we can expect is that ownership and wealth distribution will widen, potentially setting the world for a trend towards more decentralization and distribution of power/control of global businesses.
Coinbase acquired Echo, an onchain ICO crowdfunding platform that has helped more than 200 projects raise over $200 million, including Ethena, just to push for this.
Surely, this is something that may possibly require more than just Coinbase to become a reality, but understanding that when players such as Coinbase make strategic acquisitions to push solutions, competitors get building to compete.
The future belongs on-chain, few people understand this.