Jesse Pollak’s ambitious projection envisions a future where a staggering 8 billion users are actively engaged on-chain. This would signify a momentous integration of humanity into the crypto world, effectively encompassing the current Earth population. The United Nations itself estimates that Earth’s population could reach 8.5 billion by 2030, providing further context to the scale of this transformation.
Interestingly, Jesse Pollak’s optimistic outlook goes beyond Coinbase’s own blockchain project, Base. Base operates as an Ethereum-based layer 2 system without its own token. Its primary objective is to facilitate the onboarding of “the next million developers and the next billion users on-chain.” This ambitious goal is particularly noteworthy considering that Base is an exchange-funded blockchain initiative.
Decrypt, a prominent digital assets publication, highlights that achieving 8 billion users on-chain would effectively cover the entire global population. However, it is crucial to consider that not everyone is an internet user, as current statistics indicate approximately 5 billion internet users worldwide. This insight provides valuable context to the scope of Jesse Pollak’s projections.
Presently, Coinbase faces regulatory pressures from the Securities and Exchange Commission (SEC) in the US. In response to this challenge, promoting decentralization through the Base network could serve as a strategic means for Coinbase to diversify away from its core business. Embracing blockchain technology and fostering its widespread adoption could position Coinbase for long-term success.
Prominent figures within the digital assets space have consistently stressed the paramount importance of adoption. Whether it stems from gamers, Ordinals, or NFTs, widespread adoption plays a crucial role in the success of cryptocurrencies. Jesse Pollak’s vision of 8 billion on-chain users aligns perfectly with this notion, as a thriving user base is vital for the crypto market’s growth.
Coinbase, as the leading crypto exchange in the US, has been a key player in the crypto ecosystem. According to an SEC filing, Coinbase reported an average of approximately 8.4 million monthly transacting users in the first quarter of this year. However, this figure represented a 9% decline from the corresponding period in the previous year, indicating the need for continued innovation and expansion.
According to a report by André Beganski featured in Decrypt, Jesse Pollak anticipates a momentous surge in blockchain technology users over the next decade. Currently, there are less than 10 million people utilizing blockchain technology on-chain, but Pollak’s projection estimates a colossal increase to 8 billion within the next ten years.