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The co-founder of Ethereum and ConsenSys Joe Lubin said that blockchain technology, which powers bitcoins and similar cryptocurrencies, will cause society to move away from a "scarcity for an abundance mentality."
Ethereum, which is traded through digital token ether, is an open, blockchain-based software platform that allows developers to create and distribute decentralized applications.
Lubin believes that blockchain and decentralization can help stimulate innovation at all levels of society and the economy "ENABL[ing] a self-determined sovereign identity. "
"We are going to have more control over our identity and our agency on these different decentralized networks and I think it will create more wealth […] more interest in expressing ourselves, and I think there will be more appetite for luxury than less, "Lubin said, speaking at the New York Times International Luxury Conference in Hong Kong.
Joe Lubin, co-founder of Ethereum and ConsenSys, spoke at the CryptoConf Stage on November 8, 2018 in Lisbon, Portugal. (Photo by David Fitzgerald / Sportsfile via Getty Images)Getty
Last week Lubin, who created ethereum with Vitalik Buterin and Gavin Wood, said the blockchain will radically transform the Internet.
In his keynote address at the Lisbon Web Summit, Lubin said the new Internet will be completely decentralized and will probably take a few more years to develop.
"Ethereum is at the forefront as a candidate for the 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 & nbsp; everything will keep us busy for years. "
Lubin has already talked about the generation of wealth in a submerged economy, claiming to have noted "qualitative change in the nature of money" that has shifted society to a world of "global villages."
The price of ethereum ethereal ethereal has plummeted this year, along with the broader bitcoin and cryptocurrency market. After losing about 80% between January and September, the price of the ether has stabilized as traders and investors await regulatory updates and the interests of financial institutions.
The ethereum price rose last year but has not been able to keep those high prices.Coindesk
Last week the & nbsp;the price of ethereum leapt after the co-founder Buterin has signaled that it is necessary to pass to the so-called "pole test" is no longer so far "and the US bank JP Morgan Chase has revealed to have created a business version of the blockchain ethereum.
JP Morgan has revealed that it has created a business version of the blockchain ethereum – known as Quorum – that allows the execution of smart contracts.
"We are great believers in ethereum," Umar Farooq & nbsp; Head of the JP Morgan blockchain initiatives in New York;he told the Financial Review.
"There are people outside our company who use the Quorum to symbolize gold, for example. & Nbsp; wrap a gold bar in an electronically labeled tamper-proof case and can trace the bar of gold from the mine to the final point – with the use case, if you know it's a socially responsible mine, someone will be willing to pay a higher spread on that gold against if you do not know from where comes Diamonds is another example. "
Farooq by & nbsp;The comment comes after JP Morgan's CEO Jamie Dimon has praised the blockchain technology, but has described bitcoin as "a fraud" in 2017.
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The co-founder of Ethereum and ConsenSys, Joe Lubin, said that blockchain technology, which powers bitcoins and similar cryptocurrencies, will make society move from "scarcity to an abundance mentality".
Ethereum, which is traded through digital token ether, is an open, blockchain-based software platform that allows developers to create and distribute decentralized applications.
Lubin believes that blockchain and decentralization can help stimulate innovation at all levels of society and the "enabl" economy[ing] a self-determined sovereign identity. "
"We are going to have more control over our identity and our agency on these different decentralized networks and I think it will create more wealth […] more interest in expressing ourselves, and I think there will be more appetite for luxury than less, "said Lubin speaking at the New York Times International Luxury Conference in Hong Kong.
Joe Lubin, co-founder of Ethereum and ConsenSys, spoke at the CryptoConf Stage on November 8, 2018 in Lisbon, Portugal. (Photo by David Fitzgerald / Sportsfile via Getty Images)Getty
Last week Lubin, who created ethereum with Vitalik Buterin and Gavin Wood, said the blockchain will radically transform the Internet.
In his keynote address at the Lisbon Web Summit, Lubin said the new Internet will be completely decentralized and will probably take a few more years to develop.
"Ethereum is at the forefront as a viable candidate for the Web 3.0 largely due to its interoperable and radically decentralized nature and it may take several years for our ecosystem to achieve deep interoperability and decentralization in the base 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 – all this will keep us busy for years ".
Lubin has already talked about the generation of wealth in a submerged economy, claiming to have noticed a "qualitative change in the nature of money" that has shifted society to a world of "global villages".
The price of ethereum ethereal ethereal has plummeted this year, along with the broader bitcoin and cryptocurrency market. After losing about 80% between January and September, the price of the ether has stabilized as traders and investors await regulatory updates and the interests of financial institutions.
The ethereum price rose last year but has not been able to keep those high prices.Coindesk
Last week, the price of etherum jumped after co-founder Buterin reported that a switch to the so-called "pole test" is "no longer so far" and US bank JP Morgan Chase has revealed that it has created a business version of the blockchain ethereum.
JP Morgan has revealed that it has created a business version of the blockchain ethereum – known as Quorum – that allows the execution of smart contracts.
"We are great believers in ethereum," Umar Farooq, head of JP Morgan's blockchain initiatives in New York, told Financial Review.
"There are people outside our company who use the Quorum to symbolize gold, for example: they wrap a gold bar in an electronically labeled tamper proof case and can trace the bar. Gold from the mine to the final point – with the use case, if you know it's a socially responsible mine, someone will be willing to pay a bigger spread on that gold against if you do not know where it came from. another example. "
Farooq of the comment comes after JP Morgan's chief executive, Jamie Dimon, praised the blockchain technology, but described bitcoin as a "fraud" in 2017.
