The Base Camp 2025 in Stowe, Vermont, shared an update regarding to support its vision of building a globally interconnected blockchain economy, Base is considering issuing a network token.
In a blog post accompanying the announcement of the idea’s exploration, Base stated it is still in the ‘Early Stages’ of the decision-making process and, as such, has not yet determined the date, functionality, or governance of a network token.
The firm explained that although it does not have a history of strategic planning in this area, its blockchain and ecosystem in particular, have facilitated its goal in becoming an ecosystem that ‘offers an open stack that enables simple construction and monetization of blockchain applications.’
In an attempt to rationalize the goal of an ‘Open and Global’ base, the company claimed that accessibility is the core of its vision and is only attainable through decentralized protocols. The deepened groove of participation cultivated the initiative to change the company’s design principles.
The firm predicts that issuing a Base token will bring the company and the community closer to its vision of achieving a worldwide interconnected blockchain economy and will greatly enhance decentralization. More builders and creators in the ecosystem will also emerge as a result.
In August 2023, following a six-month testing period, the Base blockchain became publicly accessible.
Coinbase claimed Base was meant to be low-cost and user-friendly, focusing on ease of construction for developers while remaining decentralized and tethered to the Ethereum blockchain’s greatest ecosystem.
Coinbase, in the July 31 earnings call, noted that Base Chain now enables real-time settlement of stablecoin payments.
As reported by PYMNTS, Coinbase is on the path to a vision of crypto as the connective tissue for modern finance, as USDC volume appreciated alongside Base Chain scaling and business-centric integrations like Coinbase’s Shopify.
In a Monday post on X, Coinbase Co-Founder and CEO, Brian Armstrong said the Base network token is something they are considering because it may promote decentralization while accelerating creator and developer activity in the Base ecosystem.
“There are no definitive plans,” Armstrong said. “We are only modifying our philosophy, and for the time being, it is something we are pursuing.”
