ConsenSys’ Joseph Lubin: The Decentralized World of 2047; Trump, Facebook and Crypto Hot Takes
The world of technology and innovation exists, years, and often decades ahead of the mainstream public. If that's the case, then blockchain technology is a kind of technology that goes even further beyond, reaching out to the world of 2047. At least, that is the case for the keynote address by the CEO of ConsenSys – Joseph Lubin over Saturday May 10th during the Ethereal Summit in Red Hook.
With this address, Lubin closed out the Brooklyn Summit in style, prophesizing a future in which assets were not only tokenized and / or digitalized, but has since become the broad norm for the investment world.
Along with this, the entire web has successfully become wholly decentralized – pulled out of the hands of big, centralized self-interested self-professed impartial companies. In succeeding in this, networks have managed to [digitally] created an organic range of topical interests, and have become increasingly important to human life, atomizing the whole notion of the nation state.
It wasn't all good news for the future, however, depending on the kind of party you back, as Lubin placed his money on President Donald Trump would go on to win a second term with the upcoming elections. By what margin, he does not go so far as to disclose.
But if there is one thing that he did predict over the coming years is the fact that America as an national and globally known civilization is undergoing a mortal decline, according to Lubin. This is something marked by an ever increasing level of racial division along with further hostility presented across partisan lines. The only way that there would be a reversal of this national decline would be if social media outfits like Facebook get around to “finally admitting its role in global radicalism,” allowing itself to break into “Facebook Media” [its news feed] along with “Open Book,” which serves as a decentralized social system that can be tapped into by any startups.
It is within this vision, according to Lubin, that most of the progress being made over 2019 has been thanks in large part to ConsenSys. This is pretty remarkable news when we take into consideration the kind of tumultuous year that 2018 represented, with the company experiencing major layoffs, along with challenges in supporting spinning out startups.
The kind of decline that Liberal Demoracy is undergoing with the emergence of radical populism, or as we refer to is – popular democracy – makes Lubin believe that the medium term future from his future plinth of 2047 is that “Liberal democracy was on its death bed.” A statement we ought to take with a handful of salt, considering that radical populism has seen the single greatest increase to voter turnout in decades in both the United States and the United Kingdom.
In spite of the kinds of doubts that people have had towards Ethereum over just how data is stored and shared, Lubin specifically predicted that there is a new era for and subsequent revitalization of news reporting and journalism. We are already seeing the seeds which were sown germinating into the first generations of decentralized, objective news reporting. “Platforms like Civil triggered the recovery of the journalism industry, especially local journalism,” Lubin argues.
Civil itself is a distributed system for bringing verification, security of information and micropayments to the media world, especially news reporting.
We can see from the theories of Noam Chomsky that news sources within the United States have become stymied with financial interests and, as Lubin argued, “Divorcing news delivery from the influence of advertising dollars was the breakthrough that drove the turnaround of western democracies.”
Within an era of increasing decentralization, Lubin argues that this will lead to a world in which “ethics with respect to the truth, ethics with regard to the nature of facts” would come to dominate and serve as the norm, in stark contrast to the backwards era we're living in now, where “presenting balanced viewpoints and fostering critical thinking was anathema.”
Lubin concluded that by 2047 – with the help of a decentralized, open platform, centralized, self-interested web giants have no choice by to embrace the culture of decentralization
“We are all as a society able to engage in direct democratic decision-making,” Lubin said.
“The dream has been made real and we are all in it,” Lubin concluded from his 2047 stage, he then stated to the crowd:
“These days we don’t hear people talking about changing the world, just like we don’t hear people talking about breathing or walking. It’s just what we do.”