Fintech Watch: Coinbase’ Ethereum Wallet ‘Token’

Image Source: Google
Image Source: Google

Coinbase is a digital asset company based at San Francisco California. The company operates exchanges of Bitcoin, Ethereum and other digital assets in close to 190 countries worldwide.

Coinbase has kept itself busy lately by launching a developer review of its tool Token.

Coinbase describes Token as a combination of a private, secure messaging app, a mobile browser for Ethereum apps and an Ethereum wallet. The objective of Token as per Coinbase is to work like a global, open protocol version similar to India’s PayTM or Kenya’s mPESA.

Features of Token

  • Works as a private and secure messaging app
  • Used for small value payments and working as an Ethereum wallet (with Ethereum having lesser transaction fees compared to Bitcoin)
  • Token creates a reputation system that allows users to build trust among transaction parties
  • Available on the Appstore and Playstore.

The Future

  • Coinbase plans to have financial services provided to those 2 billion people who have a cell phone but don’t have access to a bank account
  • Get more exposure to Ethereum technology
  • Shift digital currency from being an investment policy to a payment network

 

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