Big changes are coming to Coinbase, although it remains unclear how things will play out in the long run. Company co-founder Fred Ehrsam has announced he will be leaving the Bitcoins startup, and seek out new business opportunities. It is unclear what type of venture he has in mind, or what the future may hold moving forward. This departure should not have any immediate impact on the company’s day-to-day operations, though.
Coinbase co-founder Leaving The Company Soon
It is not uncommon for founders or co-founders to leave a Bitcoin startup after several years of success. While it is unclear if this means Coinbase has achieved all of the successes it can, yet the decision has been made. Fred Ehrsam will be leaving the company at the end of January, and Coinbase will have to find a worthy replacement to take over his role.
For the time being, Ehrsam remains rather vague as to what the future will hold for him. He did express a desire to look for new business ventures, probably within the world of Bitcoin and cryptocurrency. It seems highly unlikely a new exchange will be on the cards, though, as doing so takes a ton of capital and effort. Moreover, the current licensing requirements make that far from an ideal solution.
According to Ehrsam, both Coinbase and the blockchain industry have some at an “inflection point.”To be more precise, that is a positive thought, as it goes to show this technology is at a stage where it is likely to be integrated into mainstream solutions. The industry seems to echo that sentiment, even though most blockchain-based projects have yet to come to fruition. Then again, one never knows what the year 2017 will bring, as many industry experts see this as a turning point for distributed ledgers.
What is rather disconcerting is how Ehrsam feels more employees will leave Coinbase. There is no reason to panic just yet, though, as a lot of people working for large bitcoin companies want to go into business for their own in the future. Opportunities are plentiful in the world of Bitcoin and blockchain, with lots of project ideas waiting to be explored.
In the end, the departure of Ehrsam will not affect Coinbase’s day-to-day operations by any means.The plan to add more digital currencies to the exchange in 2017 and beyond is still on the priority list, although no further details have been provided a t this time. Moreover, the pending IRS investigation matter has still not been resolved, and it will be interesting to see what comes from it.
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