Balaji Srinivasan, the CTO of Coinbase, spoke about the new feature in a video released by the cryptocurrency exchange. Srinivasan stated that the initial way that people got Bitcoin was by mining and post-2013, it has been through buying the cryptocurrencies.
The Coinbase official opined that from 2018 to 2023, individuals will be earning and learning as they are processes that can go hand-in-hand. He added that Coinbase has partnered with asset issuers who will create ‘great quality content’ to help users learn about the crypto-verse. The Coinbase blog has stated:
“Coinbase Earn allows users to earn cryptocurrencies while learning about them in a simple and engaging way. The idea is for users to understand more about an asset’s utility and its underlying technology while getting a bit of the asset to try out.”
The blog further said:
“To manage demand, we’re launching Coinbase Earn today in an invite-only mode with a single asset: ZRX. Over time, we plan to add more educational content as well as the ability to earn other cryptocurrencies.”
Coinbase believes that the Earn feature solves a lot of practical issues required to turn this theory into practice. The partnership with 0x has also resulted in the funding coming in from the ‘0x external development pool’, with the company revealing that all of money collected will be given to the users.
The initiative also gives users the chance to earn small amounts of cryptocurrencies by completing projects like video lessons and quizzes. The officials at the company have claimed that the project was started due to lack of awareness being the biggest barrier for customers while buying cryptocurrencies.
The Brian Armstrong-led company also said:
“We think Coinbase Earn could help open up blockchain access to a new group of users: people who are curious about digital assets, but who’d like to try them out for free just like a normal web or mobile app. By serving that need, we hope to make blockchain more accessible in the process.”
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