David Tso, an ecosystem lead at Base and Coinbase Wallet, recently articulated Base's ambitious vision for a global economy where "money doesn’t have borders, value moves at the speed of light, and financial services are available to everyone across the world." This statement, shared via his tweet, underscores the Coinbase-incubated Layer 2 blockchain's commitment to revolutionizing financial accessibility and efficiency. Base, built on Ethereum's security, aims to onboard over one billion users into the cryptoeconomy by making onchain activity the next online.
Base, an Ethereum Layer 2 (L2) network, was developed by Coinbase to address the scalability issues of the Ethereum mainnet, offering significantly faster and cheaper transactions. It leverages Optimistic Rollups to bundle transactions off-chain before settling them on Ethereum, ensuring both efficiency and security. This technical foundation is crucial for enabling the high-speed, low-cost transfers central to Base's mission.
A core aspect of Base's strategy involves deep integration with Coinbase's extensive ecosystem, including its 110 million verified users and $80 billion in assets. This integration provides a seamless on-ramp for users and developers, facilitating the adoption of decentralized applications (dApps) and onchain financial services. The recent rebranding of Coinbase Wallet to Base App further solidifies this approach, creating an "everything app" that combines social, payments, and trading functionalities.
The vision of a borderless global economy directly addresses the inefficiencies of traditional cross-border payments, which are often slow, costly, and inaccessible to many. Blockchain technology, particularly L2 solutions like Base, can drastically reduce transaction fees and settlement times, making international transfers near-instant and more affordable. This capability is vital for remittances and global trade, fostering greater financial inclusion in underserved regions.
David Tso's role at Base and Coinbase Wallet involves driving ecosystem growth and supporting builders in creating viral products that align with Base's goals. His focus includes fostering an open social network and facilitating the development of mini-apps on Base, which can reach millions of Coinbase Wallet users. This strategic leadership is instrumental in expanding the network's utility beyond speculative trading to practical, everyday financial applications.
Base's commitment extends to supporting a vibrant developer community, offering resources and programs to foster innovation in DeFi, social, and gaming sectors. By making blockchain technology more accessible and cost-effective, Base seeks to empower a new generation of builders to create decentralized financial services that can operate globally without traditional intermediaries. This aligns with Coinbase's broader mission to increase economic freedom worldwide.