These investments are projected to reach approximately $200 billion worldwide by 2025. However, for this large-scale transformation to occur, businesses will need to make substantial upfront investments in physical, digital, and human capital to acquire and implement new technologies and reshape their business processes. The economists at Goldman Sachs suggest that generative AI, in particular, has significant economic potential and could raise global labor productivity by more than 1 percentage point annually in the decade following widespread adoption. gross domestic product (GDP) than the discovery of electricity or the introduction of personal computers. Jesse Pollak, the creator of Base and head of protocols at Coinbase, stated that the goal of Base is to bring the next billion users and million builders onto the blockchain.Īccording to a report by Goldman Sachs, investment in artificial intelligence (AI) is rapidly increasing and could have a greater impact on the U.S. Venture capital firm Andreessen Horowitz (a16z), like Coinbase, has also utilized the OP Stack, and they plan to release their own layer 2 rollup called Magi. Even before its public launch, over $68 million worth of ether has already been bridged to the Base network. Notably, companies like Coca-Cola, Atari, and OpenSea are among the participants.

The announcement coincides with Coinbase’s upcoming second-quarter earnings report and the launch of “Onchain Summer,” a series of events that enable creators and developers to build applications and create artwork on Base. Base was made available to developers in July for testing purposes, and now users will have the ability to bridge their ether (ETH) to the Base network. Coinbase, the largest publicly-traded crypto exchange in the US, has announced that its layer-2 blockchain, Base, will be open to the public on August 9th.

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