Cryptocurrency is the "natural evolution" of money: co-founder of Ethereum


Joseph Lubin Ethereum ConsenSys

The founder of ConsenSys and co-creator of Ethereum Joseph Lubin recently expressed his thoughts on "equal waves of fascination and skepticism" about cryptocurrency, in a quartz editorial published on September 25th.

Lubin referred to a number of historical antidotes to say that society has always been a little skeptical of those who invented new concepts of money, but claimed that:

"Cryptocurrency is in many ways a natural evolution of the previous representative systems, although it favors the truth about the power sanctioned by the state".

A new representation system for the future

In the piece, Lubin noted that much of Europe has questioned representative money up to 1600 and that it took some time for digital money transfers and cables to gain acceptance.

He characterized digital currencies as the "21st century version of that fragile paper currency" and also emphasized that the decentralized and open character behind them is in contrast to "government ownership systems (and financial vehicles that they followed him). "

Lubin wrote that the use of cryptocurrencies could eventually lead to better distribution of wealth thanks to the power of decentralized networks.

He also touched on the power of virtual currency and the blockchain to give IDPs or refugees the ability to maintain an identity, as they could use technology to file and file documents in other countries for practices related to economic livelihood , how to secure a loan.

According to Lubin, open platforms on the net will eventually serve as a foundation for "collective-good collective relations", generally replacing a contradictory system made up of companies and customers.

The growth continues

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ConsenSys is a blockchain development study that focuses on the construction of Ethereum.

The bullish prospect of Lubin in his piece seems to echo the previous optimistic feelings about continued growth, despite the price turbulence.

Speaking with Bloomberg in mid-August, he noted that price crises would appear to be "small pimples on a chart" due to future exponential growth. Lubin said that each bubble has indeed led to a "tremendous wave of activity".

Lubin also made several broad comments during an interview with CCN at TechCrunch Disrupt SF.

He spoke about the work of ConsenSys, which includes projects related to education, consulting, consulting and financial market efforts.

Lubin also explained that the company was operating according to a summer guide by the SEC director of Bill Hinman, who deals with questions related to a particular token project as a security token or utility for the consumer.

Asked about the potential disruptive capabilities of ConsenSys' work, Lubin said the blockchain could be a major turning point in almost every scenario where there are "companies or people who do not trust an other "but want" to increase trust in their interactions. "

Featured image of Collision Conference / Flickr

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