Coinbase and Google Cloud

“ developers to instantly and reliably operate Web3-based systems without the need for expensive and complex infrastructure. ”

Ie without worrying about any of that pesky decentralization!

Coinbase is a centralized company, using centralized cloud compute, IPO'ing in $USD on the Nasdaq, boasting about crypto and decentralization. I wonder how many "true believers" are actually there and not just working for a paycheck...

Wow, this is really good news for Coinbase. And I mean that, because I'm utterly convinced Coinbase is going to 0. In the second quarter they had $800m revenue, and made a loss of $1Bn. The only good news is they had $5.6Bn in cash. All their financial statements are like "We all know crypto is cyclical blah blah blah" as if the macro situation today is the same as the macro situation in 2018. The company is just way too fat compared to its competitors, it moves too slow, and it'll run out of money before crypto comes back - if it ever does.

On the flip side though, Web3? Hey guys, come over here and use Coinbase and Google for your decentralized project. I don't understand who thinks "Web3" and decides "let's outsource key parts of our infrastructure to Google".

All-in-all, a very strong signal for Coinbase, once it drops around the $5-10Bn market cap it makes a very interesting acquisition target for Google.

For the web3 ecosystem to be workable you need to wrap it within two large corporations?

Tldr?

* Customers can pay for Google Cloud in crypto

* Google will use Coinbase to manage (and sell?) those funds

* Google has some blockchain data in BigQuery that developers can read.

* Coinbase will use Google Cloud as a customer

I work for google, no internal info here, only my personal opinion.

As a cryptocurrency skeptic, this sounds like a win for Google Cloud with a new customer… and not much else?

When I was at Coinbase we used AWS exclusively.

Finally, a killer use case.