In a move to foster innovation in the cryptocurrency landscape, Coinbase founder Brian Armstrong has received over 150 project applications for his previous proposed ideas and has now unveiled an exciting 11th startup idea: a Web3 version of LinkedIn. This concept aims to revolutionize the verification of employment and credentials in the emerging Web3 era.
Armstrong’s vision for the crypto future, shared in a blog post and presentation on August 30, includes various concepts that could reshape the digital asset market. Among these ideas, the development of a Web3 LinkedIn stands out. This platform would allow corporations to issue soul-bound NFTs to validate employment and qualifications, replacing traditional resume verification processes with a secure and transparent method.
The Web3 LinkedIn project involves multiple components, including the creation of a user-friendly interface for exploring employee and employer profiles. Building a network effect is crucial for the success of any social platform, and Armstrong hints at strategies such as allowing users to mint their NFTs by verifying their association with a company through a .com email.
Armstrong’s other startup ideas are equally intriguing. He proposes “Flatcoin,” a decentralized currency that tracks consumer prices to preserve purchasing power. Additionally, he envisions an “Onchain Reputation” protocol that assigns reputation scores based on on-chain data, and an “Onchain Ads” model that uses smart contracts to specify payments for user actions in real-time.
While some, like Ari Paul, founder of BlockTower Capital, offer pragmatic perspectives on the feasibility and challenges of these ideas, Armstrong remains committed to his vision. Coinbase Ventures plans to host a Builder Summit in October, bringing together founders and projects aligned with Armstrong’s vision to encourage collaboration and potential investments.