According to Jesse Pollak, the protocols lead at Coinbase, the number of crypto and blockchain users could reach a staggering 8 billion over the next ten years. Speaking at the EthCC conference in Paris, Pollak acknowledged that while there has been rapid growth in crypto adoption in recent years, there is still a vast untapped market waiting to be explored. He stated, “Our feeling is that there’s so much growth ahead of us. We have less than 10 million people on-chain today. There’s going to be 8 billion people on-chain over the next decade.”
This prediction is truly remarkable considering that it equals the current global population, a significant portion of which lacks access to the internet. It also surpasses Coinbase’s own goal for its blockchain project Base, which aims to bring the next million developers and the next billion users on-chain. Many would argue that this goal alone is already ambitious for an exchange-funded blockchain project.
The Impact of Crypto Adoption
Pollak believes that crypto adoption is already taking place right in front of our eyes and that the technological advancements being made will have a profound effect on people’s lives. He predicts that these advancements will “change billions of people’s lives” and create a level playing field where individuals have access to the same products and services, regardless of their place of birth or residence. This vision aligns with Coinbase’s goal of onboarding over 1 billion users into the cryptoeconomy through its Base blockchain.
Diversification and Decentralization
Coinbase, currently facing pressure from the US Securities and Exchange Commission (SEC), may see the Base network as an opportunity to diversify its business away from its core operations. By pushing for decentralization, the exchange can expand its offerings and move beyond the scrutiny of the SEC. In fact, Coinbase has already launched its own international exchange, registered in Bermuda and overseen by the Bermuda Monetary Authority (BMA), to provide more flexibility to its users while navigating the regulatory challenges in the US.
The Future of Crypto Adoption
The potential for crypto adoption to reach 8 billion users within a decade is both exciting and transformative. It signifies a monumental shift in the global financial landscape, where traditional barriers and inequalities can be dismantled. As more individuals gain access to cryptocurrencies and blockchain technology, the opportunities for innovation and financial inclusion will only continue to grow. While challenges may arise, such as regulatory hurdles and infrastructure development, the trajectory towards widespread crypto adoption seems inevitable.
The world is on the cusp of a crypto revolution that could bring financial empowerment to billions of people. As Jesse Pollak’s prediction suggests, the growth potential for crypto adoption is immense, and the impact on individuals’ lives could be truly transformative. With Coinbase leading the way in pushing for widespread adoption through its Base blockchain, the future of the cryptoeconomy looks promising and full of possibilities.
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