Blockchain technology will power a monumental shift in society from a “scarcity to an abundance mindset.” These were the words of Ethereum co-founder Joseph Lubin speaking last week at the Web Summit in Lisbon, Portugal.
Lubin’s Blockchain Impact Theory
Delivering his keynote address at the event, Lubin, who is also the co-founder of Ethereum development startup ConsenSys, stated that Ethereum is likely to play a key role in the redevelopment of the internet as a fully decentralised ecosystem.
In Lubin’s opinion, the continued growth of blockchain technology will act as a catalyst for increased innovation at all levels of human society by creating a framework for what he describes as a “self-determined, sovereign identity.”
In other recent remarks, Lubin explained that the evolution of blockchain technology and enhanced decentralisation would lead to a future where individuals will exert greater control over their identity and agency, which will lead to wealth creation as people seek to express themselves more through a number of avenues including an increased appetite for luxury.
During his keynote address at Web Summit, Lubin opined that Ethereum would play a significant role in developing the so-called Web 3.0 – a new generation internet experience that will utilize decentralization to a high degree. Expanding on this point, he said:
“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. But that is okay. We can grow into the radical future we imagine as we take care of adoption,