Tag: Linkedin

Coinbase CEO Proposes Web3 Version of LinkedIn

by Blockchain News

Brian Armstrong, the CEO of Coinbase, took to Twitter on September 6, 2023, to share that the company has received over 150 applications for its inaugural Coinbase Ventures Summit. The summit, scheduled for October in Malibu, California, aims to bring together a select group of crypto entrepreneurs and builders. Armstrong also introduced a novel concept: a Web3 version of LinkedIn.

A Web3 LinkedIn: The Future of Professional Networking?

In a tweet, Armstrong outlined the idea of a decentralized LinkedIn platform built on Web3 technology.

It would be great if companies could issue soulbound NFTs to verify employment or credentials,

Armstrong tweeted. He also suggested building a front-end interface to explore both employee and employer profiles and emphasized the need to “develop a way to bootstrap the network effect.”

The CEO mentioned the challenge of network bootstrapping could potentially be solved by allowing users to mint their own NFTs if they can verify a “.com email from the company, etc.”

The Inaugural Coinbase Ventures Summit

The Coinbase Ventures Summit aims to be a breeding ground for new ideas in the crypto space. Armstrong had previously shared 10 ideas he was excited about in crypto, inviting startups and builders to apply for the summit to discuss these ideas and more. The summit’s application portal is hosted on cbvsummit.com.

Third-Party Perspective

While Armstrong’s idea of a Web3 LinkedIn is intriguing, it also raises questions about the scalability and adoption of such a platform. The concept of using NFTs for employment verification is novel but would require widespread corporate adoption to become a standard. Moreover, the challenge of bootstrapping a network effect for a new platform is not trivial and has been a stumbling block for many startups in the past.

Conclusion

The Coinbase Ventures Summit and Armstrong’s latest tweet indicate a proactive approach from Coinbase in fostering innovation in the crypto space. The idea of a Web3 LinkedIn could be a game-changer for professional networking, but it remains to be seen how the concept will evolve and if it will gain the traction it needs to become a reality.

Image source: Shutterstock

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Coinbase COO Choi Joins Okta’s Board of Directors

by Blockchain News

The chief operating officer at Coinbase has joined identity firm Okta’s board of directors, according to an announcement from August 23, 2022.

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Emilie Choi’s appointment at Okta has been effective since August 19.

Prior to joining Coinbase in 2018, Choi had spent more than 8 years working for LinkedIn – initially as a VP of business and data, after which she took on the role of COO in 2018.

Choi said in a statement that she looks forward to working with Okta as the company “executes on its mission of freeing anyone to safely use any technology and creating a world where your identity belongs to you.”

Choi has also previously served on the boards of ZipRecruiter, Naspers, and Naspers subsidiary Prosus N.V.

Identity management firm Okta is based in San Francisco and went public on the Nasdaq in mid-2017. Currently, it boasts a market capitalization of about $15 billion.

According to The Block, the company’s technology is used by more than 15,800 organizations to help staff access software products in a secure manner.

“Emilie’s passion for entrepreneurship, technology, and scaling mission-oriented businesses has helped build some of the most influential technology companies of the last two decades,” said Todd McKinnon, Okta’s CEO and co-founder, in a statement.

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Crypto job posts on LinkedIn rocketed 395% in 2021

by Cointelegraph

It wasn’t just a bull run for prices last year. Careers in crypto outstripped price action in 2021, as crypto job searches soared by 395% in the United States alone according to LinkedIn.

Crucially, the crypto industry outpaced the wider tech industry, which also saw remarkable development, almost doubling its number of job listings. However, at 98% growth, the tech industry dwindles in comparison to crypto jobs, which gained by a whopping 395%.

Furthermore, no industry was safe from “crypto-ization” in 2021. The LinkedIn News post offered valuable insight into crypto influencing other industries:

While most of the job postings were in software and finance, other industries are also seeing a rise in demand for crypto talent. These include professional services like accounting and consulting, as well as the staffing and computer hardware sectors.

For 2022, the growth trend looks set to continue. The biggest exchanges in crypto are brimming with job posts; Coinbase has over 250 openings, Kraken over 300, and the world’s most active exchange, Binance, lists more than 600 job posts. 

For Bitcoiners and Bitcoin (BTC) Maxi’s there’s a new resource, Bitcoiner jobs. A service dedicated to helping connect Bitcoiners with Bitcoin-only companies, it now offers almost 100 Satoshi-approved careers.

For those who are unable to switch jobs into crypto, a wider HR trend is crypto remuneration. The Mayors of New York and Miami announced that they would take a portion of their pay in BTC in 2021, while a total of seven NFL players have chosen crypto over cash salaries to date.

Related: 3x NBA champion Andre Iguodala becomes the latest athlete to receive salary in crypto

Nonetheless, while the crypto career switch appears to be gaining traction, the LinkedIn audience is not convinced. Most comments on the LinkedIn post were from bewildered onlookers wondering why crypto has value; and one aggrieved copywriter remonstrated the industry’s scammy nature.

Plus, given that Bitcoin price action has yet to impress in 2022, the crypto industry may struggle to sustain such high human resources growth levels.

In the 2018 bear market, several cryptocurrency companies laid off staff. In sum, BTC activity needs to pick up to continue to support job creation.