Lubin Believes Cryptos Are The Natural Evolution Of Money

Lubin Believes Cryptos Are The Natural Evolution Of Money

According to Lubin, better wealth distributions could be achieved through the use of cryptocurrencies.

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Joseph Lubin spoke his mind recently on matters concerning cryptocurrency in a Quartz op-ed printed on 25 September. Lubin is the founder of ConsenSys and the co-creator of Ethereum. He pointed out several remedies from the past to affirm that society always has its doubts towards people who bring new money concepts. According to him, cryptocurrency is a natural evolution in quite a good number of ways and that favors the truth and not state-sanctioned power.

Lubin also pointed out that Europe hesitated to change from representative money. This changed in the 1600s but still, the acceptance of transferring money through digital means and wires took time. According to him, the digital currencies is the 21st century’s paper money.

According to Lubin, better wealth distributions could be achieved through the use of cryptocurrencies. This is due to the supremacy of decentralized networks. Also, he went ahead to talk about the importance of blockchain and virtual currency to refugees. The currency helps the refugees to maintain their identity. This is possible since the technology enables them to keep and produce documents in the countries they are in and it will be of great help to them on matters of economic livelihood.

Lubin noted that with time the platforms opened by the network will be the foundation for the good relationships for all. This will be in
place of an adversarial system which will contain customers and corporations.

Lubin believes that growth will continue regardless of turbulence in price. He had earlier said so in mid-August when he was talking to Bloomberg. He had compared the growth to small pimples on a chat.

At TechCrunch Disrupt SF having an interview with CNN Lubin also made some comments. He touched on ConsenSys work. These are work such as advising, consultancy, capital markets, and education.

He also responded to question which he was asked about the matter of the possibility of disruption of capabilities of the work of ConsenSys. He said that there is a high possibility that blockchain can become a game changer. This can be in situations where there is no trust between people or companies but still, they want to improve their trust during their interaction. Blockchain can play a very important role in such a case.