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United States of Crypto: Blockchain Hardware Technology Built in CA

TL;DR: The “United States of Crypto” series will highlight crypto innovation at the state level. This article covers California – home to Spatial Labs, a hardware and infrastructure company.

By Coinbase

Policy

, July 24, 2023

, 4min read time

coinbase CA State Story 2023 STATIC 2400x1256 00125

At Coinbase, we’re working hard to help update the financial system by building trusted products that expand the utility and adoption of crypto. We’re doing this because we fundamentally believe crypto and blockchain technology are key to increasing economic freedom and opportunity around the world. 

Coinbase specifically chose to become a public company in the U.S. because we believe the U.S. would be best served embracing this fundamental innovation. However, many international markets are moving forward with strategies to become “crypto hubs,” with the U.S. so far creating regulation-by-enforcement that suppresses crypto development in the U.S.

While we would like to see the U.S. embrace this innovation too, it’s fortunate that passionate individuals across the U.S. are stepping up to advocate for change and build solutions in spite of the challenges. In the third part of our "United States of Crypto" series, we aim to shine a spotlight on crypto innovation and leadership at the state level – this time in California.

California, known worldwide as a hotbed of tech innovation, has consistently been a driving force for web3 development. In fact, it’s the very place where Coinbase started all the way back in 2012. While Silicon Valley and the Bay Area have traditionally garnered significant attention, we are witnessing a burgeoning web3 ecosystem in Los Angeles, too.

“California is the epicenter of tech innovation. Seeing Spatial Labs choose to make California its home is yet another example of the state’s influence in the web3 ecosystem.” Kara Calvert, Coinbase Head of US Public Policy

Spatial Labs is a perfect example of a hardware and infrastructure company pushing the boundaries of innovation in web3 and beyond. Iddris Sandu founded Spatial Labs in 2021, seeking to create products and retail experiences using AI, machine learning and augmented reality technology. Spatial Labs created a microchip called LNQ (pronounced link) that is embedded into items of clothing. The chip allows brands to add loyalty programs directly into their products instead of having someone sign up for an email list or customer reward program. To gain access to the loyalty benefits, consumers simply bring their phone within proximity to the chip – which has been sewn into the garment. Consumers may also consume fashion more ethically and transparently by understanding the item’s entire provenance. The manufacturer can provide every detail of the item, from where and how it’s made, to its environmental impact. 

“Think of the nutritional labels that you see on food products. We are creating that for the products that you put on your body and in your home- this is a new way for you to interact with your everyday items and understand their history,” says Iddris Sandu, CEO and Founder of Spatial Labs

Spatial Labs is building quickly, thanks in part to its visionary founder. In January of this year, Iddris Sandu closed a $10 million seed investment round for the company. A lifelong builder, Iddris learned computer programming at the age of 10. By age 13 he had his first internship at Google. In high school, he created an app for his school that provided turn-by-turn augmented-reality navigation around the campus for students. He has been honored by President Obama, and is a recipient of the Thiel Fellowship. He’s been featured in CNN, New York Times, Forbes, Billboard, CNBC and more. 

“At Spatial Labs, we are pushing the boundaries of innovation. This is not just about the technologies that we build and deploy- but also the means of representing a new vision for the internet generation (iGen). The iGen grew up on the internet and now has the power to influence the direction it will take moving forward. With radical technologies like machine learning, AI and blockchain, the iGen has an opportunity to build a more transparent and equitable future,”  explains Iddris Sandu.

Building their operations in Southern California was a strategic choice for Spatial Labs. They count 30+ employees at their sunny Los Angeles office and are continuing to actively build out the team. The decision was influenced by the belief that California provides an ideal environment to start and grow a business, offering access to a diverse pool of skilled individuals who can offer valuable insights and expertise. 

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