Coinbase commits to devoting 10 percent of its resources to 'innovation bets'

Coinbase is taking a new approach to innovation, according to an announcement from its chief product officer Surojit Chatterjee. In a Medium post published today, Chatterjee said the exchange would dedicate 10% of its resources to supporting "disruptive innovation bets."

The plan is titled "Project 10 Percent" and refers to Coinbase's work philosophy, according to Chatterjee. "The '10 Percent' refers to the amount of resources we’re dedicating to supporting these big bets in line with our philosophy that 70% of our time should be focused on core work, 20% on strategic bets, and 10% on innovative experimentation."


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

Coinbase is aiming for projects that create "step-function change" in users, metrics or capabilities of the platform.

Some of the bets will fail, Chatterjee wrote. "If they all succeed, we weren’t thinking big enough," said Chatterjee. "But the ones that do succeed should have a 10x impact and fundamentally move the crypto industry forward."

About Author

Aislinn Keely is a reporter on The Block's policy team holding down the legal beat. She covers court decisions, bankruptcies, regulatory actions and other key moments in the legal sphere, putting them in context for the wider crypto industry. Before The Block, she lent her voice to the NPR affiliate WFUV and helmed Fordham University's student newspaper. Send tips or thoughts on all things policy and legal to [email protected] or follow her on Twitter for updates @AislinnKeely.