Joe Lubin of Ethereum, ConsenSys: Blockchain is an Economic Stimulus, Will Harvest More Wealth


Is the blockchain technology the future? Some people strongly believe that and Joe Lubin, one of the co-founders of the Ethereum blockchain and the current CEO of ConsenSys, is one of them. According to him, the world will move from scarcity to an abundance mindset because of the blockchain technology.

Lubin has made these allegations at the New York Times interview which was published today, November 12. According to the interview, which was made in Hong Kong, Lubin spoke about how the technological advancements could bring more agency to people and wealth for all.

According to the co-creator of the Ethereum blockchain, people will have more control over their identity in the decentralized networks and this will create more wealth and more interesting ways for people to express themselves. By enabling this “sovereign identity”, the technology will lead us to a new age, he believes.

Just last week, the man has affirmed that the Ethereum network and the blockchain could revolutionize the world by decentralizing the internet and transforming it. According to him, Ethereum is a viable candidate for web 3.0 mostly because it is interoperable and radically decentralized in its nature.

Lubin believes that it may still take a few years before the ecosystem is actually ready to act as the web 3.0 but its interoperability and decentralization can be used as the basis for a radical change that can be explored in order to construct a new world.

He also believes that the tokenized economy has created a quantitative shift in how the nature of the money exists and that society has been moved towards global villages.

Ethereum In A Crisis

Despite all the promises made by Lubin, the truth is that the Ethereum network is currently far from being at its top shape. The price of the token has fallen a lot in recent months and it is now around $210 USD.

This way, it remains to be seen whether Ethereum will remain as a relevant player in the crypto world for time enough to actually promote the revolution that Lubin talks about. Will it? We have to wait and see.

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