Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Coinbase => Topic started by: sirty143 on August 16, 2018, 07:46:41 AM
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Cryptocurrency exchange and wallet service Coinbase has acquired San Francisco-based startup Distributed Systems Inc., which works on decentralized identity solutions, according to an August 15 announcement. In the blog post, B Byrne, project manager for Identity at Coinbase, said Distributed Systems will help the exchange work on new ways to validate and verify identity within its plans to develop an open financial system. With the new acquisition, Byrne says Coinbase will work toward a decentralized identity that will “let you prove that you own an identity, or that you have a relationship with the Social Security Administration, without making a copy of that identity.” See more for yourself, here (https://cointelegraph.com/news/coinbase-to-pursue-decentralized-form-of-identification-following-acquisition).
Do you think the acquisition could really help Coinbase extend its offerings and subsequently expand into non-crypto financial products? Kindly share your thoughts in the comment/reply section below.