Ethreeum’s Joseph Lubin: Blockchain will “probably take a little longer” time to develop as compared to internet | Btc-News.info
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Ethreeum’s Joseph Lubin: Blockchain will “probably take a little longer” time to develop as compared to internet

Ethreeum’s Joseph Lubin: Blockchain will “probably take a little longer” time to develop as compared to internet

ConsenSys creator Joseph Lubin, in a recent interview, spoke about blockchain. He pointed out that it will “probably take a little longer” time to develop as compared to internet. According to him, it is “much more complicated”.
According to German media outlet t3n, Lubin, who is the co-founder of Ethereum (ETH) as well, told that the development of the blockchain technology is almost similar to that of internet. He cited that its exponential growth with “hundreds of projects that are already practical for humans” to date.

He also suggested that distributed ledger technology (DLT) will be able to “permeate society more than the Internet”. It will also enable a decentralized internet, or Web3. However, Lubin, predicted that the mass blockchain adoption will take longer than that of the internet, “[Blockchain projects] will enable people to build more things that will come in handy again. That’s how the web was developed. It will probably take a little longer, because it is much more complicated. Also, because we work on topics such as digital money, Blockchain will permeate society more than the Internet. Everything will be networked in a Web3.”

Lubin stated that the principle business models of internet that are there today are contradictory that of blockchain, which “enables a self-determined, sovereign identity.”

During the interview, Lubin, mentioned that ConsenSys was “born” before the release of Ethereum. Its goal was build tools and infrastructure to enable a decentralized “ecosystem” where Ethereum could function. He also added that the firm wants to promote the ecosystem rather than “controlling”. “We [ConsenSys] do many things, but we are not interested in controlling the ecosystem. We are interested in promoting the ecosystem,” he said.

See also:

Ethereum co-founder Vitalik Buterin gets defended by actor William Shatner in cryptic tweets

BancorX, the cross-blockchain bridge between Ethereum and EOS is now live

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Author: Pinaz Kazi
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