Is the financial system truly serving everyone? For far too long, it’s felt like a gated community. High entry fees and complicated regulations have barred the door to so many others. What if instead we could create a new house— one that keeps its doors open, and its welcome mat out, for everyone? That’s the promise of Web3, and with the app created by Coinbase, Base, perhaps we finally have the architect to help get us there.
Democratizing Finance, One App At A Time
Remember the early days of the internet? It was clumsy, daunting and mostly off-limits to those who weren’t a technology wizard. Now, even my grandma uses Facebook. Base has the potential to do the same for crypto, by democratizing access and making it more user-friendly.
Base isn’t simply another crypto wallet. Its goal is to become a “super app,” acting as an entry point to a decentralized financial future. Think WeChat, but for Web3. Imagine one app that allows you to easily coordinate and communicate with friends. With it, you can do crypto commerce, payment and engage with a billion-application universe of mini applications! That's Base. And most crucially, it does away with the old Coinbase Wallet, making for a much more seamless experience.
What I’m most excited about is the potential for this to really empower those communities that are most underserved. A rural small business owner who takes Base Pay can provide great customer experience. This decision allows them to avoid expensive banking fees and connect with a more diverse customer market. Or a creator in a developing country monetizing their content on the decentralized social network, earning directly from their fans without relying on exploitative platforms.
This isn't just about making crypto easier to use. It's about economic empowerment. We give individuals the tools they need to achieve economic prosperity. No one should be left behind in this new digital economy, regardless of their race, ethnicity or geographic area. All these fee-free USDC transfers on platforms such as Shopify are especially promising for small businesses that often operate on razor thin margins.
Beyond the Hype, What's the Catch?
Now, the bad part — it’s not all sunshine and rainbows. We need to be realistic. Crypto remains complicated, and digital literacy is a legitimate barrier. After all, not everyone has access to reliable broadband internet or the digital literacy skills to easily navigate these new technologies.
Let's not forget the risks. Fraud and scams are out of control within the crypto ecosystem, and at-risk users are even more susceptible to these scams. What we really need is responsible regulation that will protect consumers without stifling innovation. Education and community outreach programs will be critical in helping everyday Americans understand the risks and rewards of crypto.
Third, and no less important, competitors are already smelling blood in the water. But Coinbase isn’t the only player hoping to become a crypto super app. The clock is ticking – let the race begin! The true winner will be the one that provides an amazing user experience, a wealth of innovative features, and rock-solid security.
A New Dawn for Economic Freedom?
Despite these challenges, I remain optimistic. We know that Base has the potential to ignite some world-changing fire. It’s a great first step in the direction of a more inclusive, equitable financial future. Judging by this pre-launch activity there is monumental enthusiasm for this project. Having over 32 million active users and $4 billion in bridged assets shows that the numbers don’t lie.
The key, I think, will be community. Base also needs to create belonging and collaboration among its users, just as T4America has tried to do. The decentralized social network is a good start, but we need more: more educational resources, more support for developers, and more opportunities for users to connect and learn from each other.
Brian Armstrong's vision to emulate WeChat in the crypto space is ambitious, but it's also inspiring. Picture this… A world where all people have affordable access to financial services. Imagine accumulating wealth and joining the global, digital economy right from the palm of your hand. That’s the hope of Base, and it’s a hope definitely worth striving for. We keep hearing that it truly is a “new day one,” in the words of Jesse Pollack.
Don't just sit on the sidelines. Explore Base. See how it works. Imagine the impact it might have on you personally, your hometown or tribal community, and the planet. Let's build this future together. Together, we can build a better finance — one app at a time.
