Lubin believes that the explosive growth 2017 linked to the fact that certain players saw in blockchain technology limitless potential, and speculators were “overly excited about it”
In recent weeks, amid the many cryptocurrency updates their annual lows, one of the co-founders Ethereum tried to convince the popular media that the segment of digital assets continues to have a great future. In conversation with CNN this Tuesday Joseph Lubin highlighted the current state of cryptocurrency market and prospects as Ethereum and technology in General.
The founder of one of the leading blockchain startups ConsenSys Lubin began with a story about what was the cause of the recent rise of the cryptocurrency market and its subsequent decline. Lubin believes that the explosive growth 2017 linked to the fact that certain players saw in blockchain technology limitless potential, and speculators have been “overly inspired by it.”
While economists saw the growth of the market of cryptocurrencies, the characteristics of the bubble, the developers expect that such dynamics will help to involve technology only positive attention, but not a bad name.
“UPS attract a lot of attention to our space, many technical professionals, entrepreneurs and consumers, so all is very good. Now we are seeing a lot of activity, and this is due to the rise in the past year. Thus, we improve different areas of their ecosystem to get ready for impressive growth”, – he said.
Speaking of spreading knowledge of the blockchain, Lubin remarked that ordinary consumers do not have to understand the principles of the technology, leaving this prerogative to the developers. Users should be more interested in decentralized applications where the blockchain, Ethereum in particular, finds immediate application.
Commenting on the recent statement Vitalik Buterin, according to which the possibility for a thousandfold growth in the blockchain space has been exhausted, Lubin, recognizing the merits of the developer, said that his opinion is not an undeniable truth.
“This is a technology that in the coming decades will affect the economy, social and political systems. We are still in the beginning. This technology is still quite immature, so it will be such a development that all of that is an asset today, in the future, it may be presented in the form of a crypto-asset so the prospects truly are great,” he said.
We will remind, a research and consulting firm GreySpark Partners has published the results of a study of the market of primary offerings of coins and found that almost half of the projects from the beginning of 2017 has failed to raise funds. With more than 40% of the ICO project has raised more than $1 million.
We also wrote that Alibaba and IBM topped the rating of the biggest inventors in the field of blockchain.
As reported, the international banking firm Standard Chartered has signed an agreement with the financial wing of the industrial giant Siemens in the framework of a pilot project on using the blockchain to issue Bank guarantees in the sphere of international trade settlement operations.
Recall that a quarter of large companies willing to invest in the blockchain up to $ 10 million in 2019.