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Tobias Lütke was among the early crypto adopters who integrated Shopify with Coinbase Commerce.
Tobias Lütke, the brain behind one of the world’s largest e-commerce sites Shopify, is on his way to assuming a new responsibility. Putting his crypto enthusiasm and interest at the forefront, Tobias would soon become a part of the Coinbase Board of Directors. Tobias’ contribution towards the crypto exchange’s expansion plans is going to be huge although the formal board approval is still pending.
What Does Tobias Lütke’s Inclusion in the Coinbase BOD Suggest?
Coinbase is on a mission to increase economic freedom in the world and empower everyone with access to financial services. To that effect, the crypto firm is targeting novel products including the NFT marketplace and building strategies to increase its international footprint. This is where Tobias Lütke’s skills and expertise would come into play as he helps Coinbase realize its mission in the same way Lütke democratized e-commerce. With Shopify and Coinbase seeking to revolutionize similar areas namely finance and payments, internet and web applications, Lütke’s industry experience and knowledge would come in handy for Coinbase.
Another important observation is Tobias’ belief in the power of crypto in revolutionizing the economic ecosystem. He was among the early crypto adopters who integrated Shopify with Coinbase Commerce. Lütke agrees that both he and Coinbase share a similar vision that is to provide opportunities to many and not just a few by putting to work the concepts of decentralized finance and entrepreneurship, integral to Web 3.
Tobias Lütke will be an additional member in the existing 5-member Board that comprises Coinbase CEO Brian Armstrong, Coinbase co-founder Fred Ehrsam, Former CSO of Cisco Kelly Kramer and a16z founder Marc Andreessen.
Who Is Tobias Lütke?
The German-born entrepreneur is sort of a prodigy when it comes to programming. Tobias started experimenting with codes and changing computer hardware when he was 11 or 12. Building upon his born programming expertise, he quickly started getting more involved with the open-source community and worked towards projects namely Liqyud, Ruby on Rails and ActiveMerchant. Using his open-source experience to build a custom e-commerce platform, Tobias was selling snowboarding equipment in 2004. He is now the co-founder and CEO of this global cloud-based e-commerce firm that serves small and medium businesses. Although a programmer at heart and a full-time CEO, the Canadian entrepreneur has tried his hands at blogging. You can find Tobias’ interesting insights and points of view on his blog where he talks about the many maladies, developments and opportunities existing in the world.
Coinbase is one of the world’s largest cryptocurrency exchanges in the world that is working towards building an efficient, accessible and transparent crypto-based financial ecosystem. Established in 2012 by Brian Armstrong and Fred Ehrsam, it has almost 73 million verified users, 185,000 ecosystem partners and 10,000 institutions across 100 countries. Coinbase has no physical headquarters but is fully operational remotely.