Ethereum will fundamentally transform the Internet


Joseph Lubin, the co-founder of Ethereum, spoke during the Web Summit in Lisbon, Portugal. Lubin said that blockchain technology can fuel a monumental change in society "from a scarcity to an abundance mentality".

The impact of Ethereum on society

The blockchain and the technology behind cryptocurrencies like Bitcoin is Ethereum. Ethereum. Trading through digital token ether, it is an open software platform. The platform allows developers to create and distribute decentralized application on top of the Ethereum blockchain.

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Lubin said that blockchain and decentralization can improve innovation at all levels of society and the economy by implementing a sovereign identity. It claims that the blockchain technology and the enhancement of decentralization would lead to a future in which people will exercise greater control over their identity and agency He said:

"We are going to have more control over our identity and our agency on these different decentralized networks, I think it will create more wealth […]. It will also create more interest in expressing itself and I think there will be more appetite for luxury than less. "

Joseph Lubin created Ethereum together with Vitalik Buterin and Gavin Wood. He revealed that blockchain will radically transform the Internet. The new Internet will be completely decentralized and will probably take more than a few years to develop. Lubin stated:

"Ethereum is at the forefront as a candidate for Web 3.0, largely because of its interoperable and radically decentralized nature, it may take a few years for our ecosystem to achieve deep interoperability and decentralization in the basic and upper layers. ", said Lubin. "But all right, we can grow in the radical future that we envision as we take care of adoption, exploration of the use case, the user interface and the definition of the user experience – everything will keep us busy for years ".

Why Ethereum and Blockchain?

Lubin spoke of the generation of wealth in a thrown economy and says that society is moving towards a world of global villages instead of a centralized model. Even if he says that decentralization could be in a few years, he He says that the great growth for cryptocurrencies and blockchain has just begun.

"The technology is still pretty immature, but there will be so much evolution in this space, and everything that is a resource right now will probably have a cryptographic resource in the future." There is so much growth forward in space. ".

Image source: "Flickr"

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