Coinbase Chief Executive Officer Brian Armstrong said on-chain reputation, built from blockchain transaction and repayment records, could eventually replace traditional credit scores such as FICO. Lenders could assess wallet age, loan repayment history, wallet activity and interactions with counterparties using publicly verifiable data rather than relying solely on centralized agencies such as Equifax or Experian. Armstrong made the comments in response to Jesse Pollak, creator of Coinbase's Ethereum layer-2 network Base, who highlighted the growth of on-chain credit markets offering loans with no collateral or limited collateral. Credifi offers unsecured loans of up to $3,000 to wallets scoring above 1,800 on Ethos, an Ethereum-based reputation service. Supporters say portable on-chain records could improve transparency and expand access for people without traditional credit histories, but public transaction data creates privacy risks, wallet activity may not capture all financial behavior, and users can abandon wallets or manipulate activity. Regulatory, identity and data-accuracy challenges leave the reliability of on-chain records for measuring repayment capacity and default risk unproven.