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. This projection is not only ambitious but also truly remarkable, considering it equals the current global population, a significant portion of which lacks access to the internet. The idea that crypto adoption could encompass such a vast number of individuals implies a monumental shift in the global financial landscape, with the potential to dismantle traditional barriers and inequalities.
A Nascent Market Waiting to Be Explored
While there has been rapid growth in crypto adoption in recent years, Pollak acknowledges that there is still a vast untapped market waiting to be explored. With less than 10 million people on-chain today, the potential for growth is tremendous. By reaching the projected 8 billion people on-chain over the next decade, the opportunities for innovation and financial inclusion will only continue to expand.
Pollak believes that the ongoing technological advancements in the crypto and blockchain space will have a profound effect on people’s lives. These advancements, according to him, 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.
Coinbase, currently facing pressure from the US Securities and Exchange Commission (SEC), sees its 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 potential for crypto adoption to reach 8 billion users within a decade signifies a transformative shift in the global financial landscape. As more individuals gain access to cryptocurrencies and blockchain technology, traditional barriers and inequalities can be dismantled. 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. Jesse Pollak’s prediction not only highlights the immense growth potential for crypto adoption but also underscores the impact it can have on individuals’ lives. 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. As the adoption of cryptocurrencies and blockchain technology continues to expand, the opportunities for individuals to achieve financial inclusion and freedom will only grow. The crypto revolution is upon us, and it is poised to reshape the world as we know it.