Coinbase’s foundation is a crucial aspect of the World Economic Forum’s (WEF) plans to spawn central bank digital currency (CBDC) technology, Testing Decentralization podcast host Chris Blec said.
On February 23, coin base announced the launch of its Base product. The company described the product as an Ethereum layer 2 that allows “anyone, anywhere” to profitably build dApps.
“Our goal with Base is to chain the next 1B+ users online and embedded in the crypto economy.“
Blec’s comments reignited the discussion about the co-optation of Ethereum by entities seeking to censor and centralize the chain.
On August 8, 2022, after notification of the United States Treasury Sanction Mixer Tornado Cash: Ethereum was under fire for its lack of net neutrality by “bowing” to pressure and complying with authorities.
The agency stated that more than $7 billion of illicit funds had been laundered through the protocol, including funds stolen by the North Korean hacking group Lazarus.
Why Coinbase Base is different from other Layer 2
coin base stated that Base would not embed a token. Instead, Ethereum will be used as a native gas token.
Coinbase chief of protocol Jesse Pollack speaking with laura shin — said there is self-custodial Coinbase wallet and Coinbase dApp wallet; Base intends to integrate both products.
On why Base is different from other ETH layer 2s, Pollack said that Coinbase already has a captive user base, which means Base developers have access to a large existing user pool from the start.
“It’s very easy for developers to build, and then it’s very easy for those apps that developers build to get access to the users that come to Coinbase.”
The cornerstone of the WEF’s plans?
Flash He said that while Base will not have permission to build, there were no explicit narratives about its use without permission.
He warned that Base “will be a KYC chain,” meaning only those who verify their identity will have access. Blec then made the leap that Base is an integral aspect of WEF’s plans to achieve CBDC.
“This will be a KYC chain and is a *very* important step forward for the WEF plan of CBDC technology and cashless society.“
an user noted that there is no threat to personal sovereignty as long as the base layer remains decentralized. Flash he responded with “delusional.”
