Ether Creator Says Evolution of Money Points to Crypto
According to a Quartz report Tuesday, 25th September, Joseph Lubin, Ether creator and founder of ConsenSys, shared his views on what he described as equal forces of criticism and innovation pertaining to digital currency.
During his discussions, the industry figure touched upon various points from history to support his argument regarding societal tendencies to approach innovation with fear and skepticism. This notion is particularly the case when concerning monetary value. Lubin stated that digital currency, in his opinion, is merely the evolution of monetary systems that leans away from state control.
The Evolution of Money Points to Digital Assets
During his discussions, Lubin mentioned that the majority of European natures frowned upon the concept of representative exchange as opposed to valued commodities for as recent as the 17th century. Furthermore accepting wire transfers or any form of digital transactions was also a lengthy process. In Lubin’s opinion, cryptocurrency is a new phase of representative money entering the digital and globalized world.
He believes that due to its decentralized nature, digital assets have the potential to facilitate improved wealth distribution worldwide. Not only could this new system help nations with struggling economies, but also aid the growing number of refugees and other displaced individuals through the power of blockchain technology, in which documentation, proof of identity and personal funds can be safely stored and accessed from any location.
Blockchain Development in Full Speed
Lubin’s blockchain research and development company, ConsenSys, pays particular attention to the Ether network. In his recent discussions, Lubin represented a positive outlook on future prospects for the crypto community despite current market dips. As is the case with the majority of bullish perspectives pertaining to the crypto market, Lubin strongly believes the success and growth of digital currency is yet to come.
During an interview with Bloomberg this summer, Lubin mentioned that dips in market values, in the big picture, will appear to be no more than minor bumps in an otherwise exponentially rising growth chart. He also participated in a CCN conducted interview during his attendance at the TechCrunch Disrupt SF, discussing long-term concepts and plans for the company, including projects geared at education, consulting, advisory services, and other projects regarding capital markets. He confirmed that ConsenSys is functioning under the guidance of Bill Hinman, an SEC director. Lubin explained that blockchain technology has the ability to provide improved trust and security in a business that otherwise lacks that necessary trust in each other.