Home web3.0 ConsenSys CEO believes decentralization will spark 'generational paradigm shift'

ConsenSys CEO believes decentralization will spark 'generational paradigm shift'

Mar 03, 2024 pm 12:34 PM
Blockchain Bitcoin Ethereum Blockchain technology Decentralization Ethereum etf

ConsenSys 首席执行官相信去中心化将引发“代际范式转变”

Joseph Lubin, CEO of ConsenSys and co-founder of Ethereum, noted that the current challenges to the world’s monetary system indicate that we are ahead of the coming generational paradigm change driven by decentralization.

He expressed these sentiments during a fireside chat with ETHDenver, exploring ideas that could drive the next technology and financial supercycle.

Lubin believes that this change will trigger a "golden age" in the crypto industry, as the monetary system changes and wealth transitions to younger generations. He emphasized: "This momentum is growing rapidly and is unstoppable."

Demand for decentralized systems

Lubin paints a broad picture, contrasting historical trends with the current state of the world. He discusses in detail the concept of intergenerational supercycles proposed by Strauss and Howe, which holds that each generation builds on the previous generation and at some point requires a breaking point in the new system. Lubin emphasized the importance of intergenerational supercycles in understanding social change and evolution, noting that this pattern helps us predict future development directions. His research provides us with a new perspective and helps us better understand the cycles and changes of history. This comparative analysis provides us with

According to Lubin, the current centralized system has reached its limit and is unable to meet the needs of the new generation. This cycle is about to usher in the end of the last stage.

He compared existing top-down, controlled financial systems with the potential for decentralized trust that blockchain technology has.

Lubin pointed out that Satoshi Nakamoto created Bitcoin to deal with the limitations of the traditional financial system and lead us towards a new open and transparent system. In this system, anyone can freely participate and confirm the validity of transactions.

Centralization problem

Lubin said the recently launched spot Bitcoin ETF is overall a positive development for the industry. However, he expressed concerns about the centralization of Bitcoin through these tools.

He pointed to the possibility of regulators influencing asset prices through entities like the Plunge Protection Team, raising questions about real control over these assets.

Lubin downplayed the immediate impact a potential spot Ethereum ETF could have, suggesting that enthusiastic holders would be more likely to stake their ETH in the protocol to participate in its governance and receive rewards, keeping the asset decentralized.

He added that Ethereum’s true value lies not in short-term price fluctuations but in its ability to power diverse applications across a variety of industries.

The ConsenSys CEO also warned of the potential dangers of centralized AI and stressed that its development needs to be intertwined with decentralization.

He outlined ongoing efforts within the crypto space to create decentralized versions of various AI capabilities, such as storage, computing, and data sharing, ensuring responsible and ethical use of this powerful technology.

Lubin emphasized the importance of remaining vigilant about centralized control and working together to build a future based on ethical AI development, user empowerment, and a fairer distribution of power and resources.

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