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Ethereum Co-Founder Predicts A Radical Overhaul Of Society
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Ethereum Co-Founder Predicts A Radical Overhaul Of Society

Ethereum and ConsenSys co-founder Joe LubinJoe LubinJoe LubinJoe LubinJoe LubinJoe LubinJoe LubinJoe LubinJoe LubinJoe LubinJoe LubinJoe LubinJoe LubinJoe Lubin has said blockchain technology, which powers bitcoin and similar cryptocurrencies, will cause society to move from a “scarcity to an abundance mindset.”

Ethereum, which is traded through the digital token ether, is an open software platform, based on the blockchain, that enables developers to build and deploy decentralized applications.

Lubin believes blockchain and decentralization can help to spur innovation across all levels of society and the economy by “enabl[ing] a self-determined, sovereign identity.”

“We are going to to be more in control of our identity and our agency on these different decentralized networks and I think that’s going to 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.

Last week Lubin, who created ethereum with Vitalik Buterin and Gavin Wood, said blockchain will fundamentally transform the internet.

In his keynote address at Web Summit in Lisbon, Lubin said the new internet will be fully decentralized, and will likely take a few more years to develop.

“Ethereum is far in the lead as a viable candidate for web 3.0 largely because of its interoperable and radically decentralized nature. It may be a few years before our ecosystem achieves profound interoperability and decentralization in the base and higher layers,” said Lubin. “But that is okay. We can grow into the radical future we imagine as we take care of adoption, use case exploration, user interface and user experience definition – all of which will keep us busy for years.”

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