The institute plans to consult with leaders and policymakers across the industry.
Coinbase has unveiled its plans for a global crypto think tank to shape the debate about cryptocurrencies in the world. Dubbed The Coinbase Institute, the interdisciplinary team will provide expert analysis and insight into occurrences in the cryptocurrency ecosystem. The institute will operate remotely, with a yet unnamed budget.
According to the announcement, the institute will be led by the Director of Policy at Coinbase, Hermine Wong. Other names on the advisory board include Cesare Fracassi, a professor at the University of Texas who will direct economic research, and Christian Catalini, a crypto researcher from MIT. There are also academics from the Harvard Business School; the University of Michigan; Johns Hopkins’ business school; and Duke’s business school.
A similar move by Google in the past increased the company’s political influence and similar results may be in view for Coinbase.
Coinbase Institute Will be Research-Focused
Director Wong stated that one of the institute’s priorities will be to publish research on the industry. To start with, the institute is partnering with the University of Michigan to conduct empirical research on “Household adoption and attitudes toward cryptocurrency.”
Also, the institute plans to consult with thought leaders and policymakers across the industry. It will also publish a monthly report that gives insight into the digital assets market. Already, the institute has published its first report under the title “Crypto and Climate’. The report examines the industry’s high energy usage and confirms that it is justified. It also claims that the industry contributes to the development of new energy-efficient forms and sustainability.
Wong was also quick to draw comparisons between the institute and the research arms of Microsoft and JPMorgan. She also differentiated the initiative from that of organizations like The Atlantic Council.
Global Think Tank Aligns with Coinbase Culture
The initiative is in tandem with previous statements by Coinbase CEO Brian Armstrong. Following perceived falsehood from media bodies, Armstrong announced the Coinbase Fact Check last year to correct inaccurate and malicious media reports.
According to Wong, the global think tank will complement previous initiatives by the company to renew the views of people about cryptocurrencies and digital assets. Despite these initiatives, Coinbase posted significant losses in its Q1 2022 report.
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