Joseph Lubin: “With Last Year’s Contraction Now Ending, The Future Looks Good For Crypto”
ConsenSys and Ethereum co-Founder Joe Lubin recently spoke with CNN Money Switzerland about the future of blockchain technology and how he feels the traditional stock market will perform in 2019. During the course of the interview, Lubin also spoke about how mature the crypto industry had become within such a short period of time (especially when compared to the internet— a technology that took a full decade to catch on with the masses)
“The world wide web was invented in 1989 I was until about 1999 before my mother even thought about wanting to have an email account”
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While talking about cryptocurrencies and how he envisions the future of this unique asset class to play out, Lubin was quoted as saying that since its inception around ten years ago, this market has witnessed a “lot of booms and corrections”. However, he now believes that with new consumers, technologists and entrepreneurs entering this space, we are once again “entering into a new breakthrough territory”.
On the subject he added:
“Last year we were in more of a contraction but the year before and early in the year it brought just a couple orders of magnitude more people into the space. so we’re seeing the fruits of all of that”
Following these comments, the tech savant then went on to discuss the complications that currently exist with employing blockchain technology. For example, he carefully mapped out some of the intricacies that are involved in using this digital offering— especially within sensitive domains such as finance, supply chain management etc.
In closing out his interview, Lubin went on to talk about the burgeoning Swiss crypto industry. On the subject, he was quoted as saying that “Switzerland had from the very start been at the forefront of supporting the blockchain movement”. He then went on to applaud the effort made by the country’s government in embracing the use of crypto assets for certain fee payments.
“At a national level they’ve been looking at how to issue tokens legally and I think they’ve got a good framework for that. In Zürich, our identity solution is actually being used now to enable citizens to access government services […]”