Head of Coinbase Tokenization: Base Blockchain Will Prove Identity Through Ethereum Proof Service and Coinbase
2024-05-09 22:50:49
Anthony Bassili, head of tokenization at Coinbase, said that Coinbase's Ethereum Layer 2 Base blockchain will be authenticated through the Ethereum Proof Service and Coinbase, thus saving time for know-your-customer (KYC) and anti-money laundering (AML) verification, which creates a tag on what users call a smart wallet. Coinbase verification can be done after customers complete the KYC process. While this may not be enough for all scenarios, Bassili said that we expect to eventually evolve into something like a KYC dependency model, which will start to form a market structure and make the KYC process easier. There are already over 300,000 wallets verified.
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