Coinbase CEO Brian Armstrong recently extended his list of startup ideas by introducing the concept of a Web3 version of LinkedIn. This innovative platform aims to verify employment credentials through the use of company-issued soul-bound NFTs (Non-Fungible Tokens). Armstrong’s new vision comes on the heels of a broader roadmap that he laid out for the future of cryptocurrency and blockchain technology.
A Fresh Vision for Crypto’s Future
On August 30, Armstrong took to Twitter to share his broader vision for the future of the crypto ecosystem. He discussed a myriad of topics aimed at enhancing the digital asset market, including ten startup ideas that attracted more than 150 project applications. This Web3 LinkedIn concept is the 11th idea that he has shared publicly, further emphasizing his commitment to innovation in the crypto space.
Leveraging Soul-Bound NFTs for Verification
The proposed Web3 LinkedIn-like platform seeks to use soul-bound NFTs as a method of securely verifying employment and credentials. These soul-bound NFTs, a concept first introduced by Ethereum co-founder Vitalik Buterin, would be issued by companies to create a tamper-proof association between individuals and their professional history.
User-Friendly Interface and Network Effects
Armstrong’s vision also includes a front-end interface for easier navigation and discovery of employee and employer profiles. In addition, he hinted at a solution allowing users to mint their own NFTs upon verifying their association with companies through methods like .com email addresses. This could facilitate the platform’s network effects, a crucial factor for the platform’s success.
Towards a Global Crypto Job Marketplace
The Web3 LinkedIn idea follows Armstrong’s vision for a marketplace dedicated to crypto-related jobs. He believes that such a marketplace would enable global access to crypto work opportunities and even allow for compensation to be handled in cryptocurrencies.
A Commitment to Building the Web3 Ecosystem
Armstrong has repeatedly stated that while Coinbase doesn’t have the resources to build every element within the Web3 ecosystem, his venture firm could assist other startups in bringing more projects to fruition. He also mentioned that bear markets are an opportune time for building, a sentiment that has garnered approval within the community.
What This Means for the Blockchain Space
Brian Armstrong’s new idea adds another layer to his commitment to fostering innovation in the blockchain and Web3 space. With a user-friendly interface and a secure verification system, this Web3 version of LinkedIn could very well replace traditional methods of resume verification and employment credentialing.