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wilslaw

Ethereum Co-Founder says: Blockchain will be most of the Economy in 10-20 Years

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Joseph Lubin (Ethereum (ETH) co-founder) during the SXSW conference held in Austin on March 14, said that he expects the global economy to be 10 times larger in 10 to 20 years, when blockchain is fully ramified, and that blockchain will play a very big role in it. Lubin also pointed out that just the way nowadays there aren’t many “normal” people using blockchain-based systems, “there weren’t a lot of ‘normal’ people firing email around in 1983.”

 

He also talked about the promises of Ethereum 2.0, stating that there are a lot of inefficiencies present in Bitcoin (BTC) and the current version of Ethereum that Ethereum 2.0 lacks: “In Bitcoin and currently in Ethereum, you need to have specialized hardware, burn lots of electricity, waste lots of computation, to basically keep everybody in sync. [With Ethereum 2.0, in 18 months] we’ll have a blockchain system much more powerful and scalable that uses orders of magnitude less energy.”

 

As Cointelegraph recently reported, Lubin also said that blockchain technology and decentralization can benefit both content creators and journalists. The statements mentioned above goes in line with what Lubin said last year November, when he told a New York Times interviewer that with blockchain, society will move “from a scarcity to an abundance mindset.”

 

Edited by wilslaw

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