Lubin: “Ethereum Is Not Going Away, It’s Not Going To Fail”

Lubin: “Ethereum Is Not Going Away, It’s Not Going To Fail”

During the crypto winter, a lot of cryptocurrencies were hit hard and Ethereum is just one of them. If there is anyone in the market that should be worried though its Joe Lubin who is the founder of ConsenSys, an incubator for Ethereum projects. Despite the hard hit that Ethereum has experienced, Lubin doesn't seem concerned at all. The co-founder of Ethereum was an interactive keynote speaker at SXSW 2019 where he discussed how calm he was about the whole situation - “Ethereum is not going away. It’s not going to fail. It will remain very significant.”

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There seems to be an increase in the reasons as to why you should be bullish about Ethereum’s future. In recent times, the SEC Chairman Jay Clayton has agreed that digital assets might not be securities based on the Howey Framework. ConsenSys is “intimately associated with the Ethereum protocol.” It has 85 Ethereum blockchain protocol engineers occupied building around the clock. Lubin has said, “ConsenSys projects and tools are focused on Ethereum because it’s the only game in town, really.”

From where Lubin is standing, ConsenSys is a lot more reliant on a decentralised ecosystem succeeding that it is any other project. Looking towards decentralised bandwidth, identity and lot of other interoperating decentralised protocols, he said “we’d probably give up if… a decentralized World Wide Web never materialized.”

When speaking at the keynote in Austin, the price of Ethereum came up which has been stuck in a rut for quite some time now following its devastating crash over the past year. Lubin has been with Buterin since the start of Ethereum and has seen several market cycles come and go, it seems that Lubin is playing the long game:

“Since the start of the ecosystem and since 2009, we’ve seen many incredible rises in the price of these tokens followed by very significant corrections. So the most significant correction took us back one year, which was 5,000-times more valuable than when ETH was initially launched. In that context, it’s not so horrifying.”

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