Ethereum Cofounder Joseph Lubin Disagrees With Vitalik Buterin on Future Crypto Growth

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Tue, 09/11/2018 - 20:00
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    ConsenSys CEO and the cofounder of Ethereum Joseph Lubin talks market volatility, cryptocurrency adoption and the state of regulatory progress

Cover image via U.Today

Ethereum co-founder Joseph Lubin, who previously said that the December crypto boom was a bubble, claims that the market will experience further growth. He believes that the cryptocurrency industry is currently moving in the right direction.  

Attention over volatility


During a recent interview with CNN.Money, Lubin has recently discussed the current market sentiment with CNN's Julia Chatterley. Speaking of the December peak, Lubin states that these booms are always about recognizing the potential of a new technology and subsequent market speculations. However, he believes that the industry is rapidly developing. Blockchain technology, according to Lubin, has a huge potential to be applied in many areas, including gaming. ConsenSys CEO claims that that the technology is still rather immature, so we have to wait until it further evolves.

As U.Today has recently reported, Ethereum co-founder Vitalik Buterin actually claims that the days of huge crypto growth are gone. When asked to address these comments, Lubin called Vitalik “brilliant,” but at the same time disagreed with him on this issue since Blockchain technology is not going to simply vanish. Countries along with the biggest corporations around the globe are already utilizing this nascent technology, so it will have an enormous impact on how whole economic and political systems are built.

Regulators are on the right path  


The issue of regulations, which is a matter of pressing concern in today’s crypto space, was also discussed during the interview. In particularly, Lubin was asked about Goldman’s recent decision not to open a cryptocurrency trading desk. Unlike TechCrunch founder Michael Arrington, Lubin is entirely satisfied with current the regulatory progress in the US and around the world with regards to virtual assets. He claims that SEC’s William Hinman concluded that consumer utility tokens cannot be considered securities if they are properly marketed.

Lubin also weighed in on the approval of a new dollar-backed coin Gemini Dollar (GUSD). He claims that such projects are necessary in order to build out a crypto economy.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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