Ethereum Co-Founder: Blockchain Will Create More Wealth and Radically Change the Society

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Ethereum Co-Founder: Blockchain Will Create More Wealth and Radically Change the Society

Ethereum co-founder and ConsenSys CEO Joe Lubin said that blockchain technology is able to change the mindset of the society.

Ethereum Co-Founder: Blockchain Will Create More Wealth and Radically Change the Society

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Source: CoinSpeaker

Ethereum [ETH] co-founder’s ConsesSys launches Rimble Design System to foster adoption of Ethereum

Joseph Lubin, the co-founder of Ethereum and the founder of ConsenSys, a blockchain software development company, tweeted the release of Rimble Design System [RDS]. RDS, as the founder claims, is a package of adaptable components and tools to help make the development of decentralized apps [dApps] on Ethereum more user-friendly.
The design team at ConsenSys developed Rimble Design System as an open-source project that provides dApp designers and developers adaptable components and design standards to create common dApp UX patterns, validated through user research, and built for developers.
The launch was tweeted by the founder, Joseph Lubin:
Source: Twitter
The design team at ConsenSys agrees that the development of dApps requires users/developers to learn new patterns, which are a hurdle for both designers and front-end developers.
Amanda Gutterman, the Cheif Marketing Officer at ConsenSys, tweeted recently that the ConsenSys Grant Program will be awarding $500,000 to projects in the Ethereum space which focus on infrastructure, research, interoperability, usability, and developer tools. This was announced at Devcon 4 by Joseph Lubin.
ConsenSys aims to create a new internet because “the current internet is broken”. In a Medium post, it described how digital information on the internet can be stolen without the creators getting the required credits. It plans to eradicate this model of the internet and create a new one. It stated:
“It’s time to change this model; to reward those who enrich our digital worlds. It’s time to use ethical collaboration to foster innovation and growth, with infrastructure built to support just that. It’s time to decentralize the Internet, to move to version three.”
In its effort to help decentralize the world and help companies, ConsenSys oversees the project of a startup called Kaleido. The startup aims to help enterprises implement blockchain technology and is collaborating with Amazon Web Services to do just that.
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Source: AMB Crypto

Joseph Young also Emphasizes Growing Development Activity Rather than Prices just like Joseph Lubin

While major cryptocurrencies are showing signs of high stability in low price ranges, a bear market like situation, Joseph Young took the twitter to reaffirm what Joseph Lubin had said in August that every bear market or bubble-like situation has led to extensive development of industry and he believes that’s what we are seeing now.
Development and adoption of cryptocurrencies matter more than prices right now
Joseph Young comes as a confidence booster as he reminds people that bear markets are just a phase that will pass on but what actually matters for the industry is the development activity and adoption of cryptocurrency as the industry needs to grow and stabilize. His tweet mentions that crypto volume is very low, but in terms of developer activity and market development, the industry is in a good place.
According to Young, a snippet of Joseph Lubin’s interview to Bloomberg makes so much sense in terms of explaining the scenario right now. He posted the following snippet said by Lubin
“We’ve seen six big bubbles, each more epic than the previous one, and each bubble is astonishing when they’re happening but when you look back they look like pimples on a chart.” “What we have noticed is that with each of these bubbles we have a tremendous surge in activity and that’s what we’re seeing now… I think we’re now back to November, December prices, which we thought were incredibly high. And since then we’ve probably seen two orders of magnitude increase in development activity, increase in scalability technology. So, it’s actually going quite well.”
Just like Young for Lubin what mattered was mass adoption of cryptocurrency at this stage.
“Massive adoption everywhere. So, the banking industry, the supply chain is huge. There’s one prong, which is sort of corporate and another prong which is building up the decentralized world wide web. Both are growing tremendously. The start-up ecosystem is exploding.”
Another point that Lubin hand mentioned in that interview was that only the fittest will survive and rest will fade out.
“It’s not all that will survive. I think the future of the decentralized world wide web is hundreds or thousands of decentralized protocols. Some of them will be like Ethereum, and Ethereum is orders of magnitude bigger than anything else, and it’s growing faster than everything else. So it will be significant going forward…”
While Young reminds of Lubin’s statement, he is trying to infuse confidence into the markets which seem to be low as for the bear phase of the market looms
Will Joseph Young’s tweet trigger confidence into the markets and will we see an upward move in the prices? Do let us know your views on the same.
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Source: CoinGape

Ethereum [ETH]’s Joseph Lubin: cryptocurrencies’ price rises because the technology is quite profound

Recently, at the Next Conference 2018, Joseph Lubin, the Co-Founder of Ethereum spoke about the current status of the cryptocurrency market. He also discussed the pros of leveraging applications like Facebook on the blockchain.
Joseph Lubin began by discussing the price drop in the cryptocurrency market. On being questioned about the reasons behind the price drop in the market, he stated that the real question should be the reason behind the increase in its price. He went on to say:
“I think the market goes up because the technology is really quite profound, and people understand that we’ll be able to build things with it as it matures. That will radically transform society for the positive.”
Giving the example of the late 90’s dot-com era, he stated that people wanted to be a part of the era because they believed it can be “societally transformative”. Lubin further added that the other reason for the boom was the thought of making money.
He further added:
“Many times since the advent of Bitcoin in 2009, five or six times we’ve seen remarkable surges of excitement, irrational exuberance, and those moments tend to overshoot what the actual fair price might be for these tokens.”
Lubin believes that the cryptocurrency market will witness another January 2018 peak. He stated that the market will observe “corrections”. According to Lubin, the corrections seen up until now in each peak were much bigger in comparision to the previous corrections. Lubin went on to say that the price corrections co-related well because the market is still in its early days.
Lubin stated that there has been seen some interesting use cases for blockchain technology and cryptocurrencies. However, he believes that, at present, it was not “fundamentally systemically” important to society.
The co-founder further added that the cryptocurrencies will witness high fluctuations in the market. He also stated that the cryptocurrencies were a “narrow slice” of the full potential of the blockchain technology.
He further spoke about the possible advantages of appending the blockchain technology to the internet. Lubin said:
“One thesis is that the Internet is somewhat broken right now. The internet and the web technologies have taken us very far in terms of transforming society over the last couple decades roughly but the technology is missing natively digital assets or digitally scarce assets and it’s missing an identity construct.”
According to Lubin, “identity construct” was the most important thing on the web. He stated that the current web technology was lacking in a healthy identity construct. From a users’ perspective, Lubin said that applications like Facebook would have a different identity if it was built on the blockchain.
Exemplifying, he said that Uport, an application powered on the Ethereum [ETH] blockchain enabled the creation of the root of a digital identity on the public blockchain.
Uport provides digital lockers to encrypt the identity on the public blockchain, he added. Lubin stated that these features will allow encryption of personal information on the blockchain and also provide an opportunity to selectively disclose the information when required.
Joseph Lubin said:
“I’m not saying the Facebooks’ and Googles’ of the world won’t be able to continue to pursue their business model but they’ll be doing it probably with lower quality data, the stuff that I’m willing to spray across the internet in order to access their services.”
He concluded by saying that with blockchain, owners can control higher quality information like health and financial information and make it available on the data market for a certain fee.
The post Ethereum [ETH]’s Joseph Lubin: cryptocurrencies’ price rises because the technology is quite profound appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum [ETH]’s Joseph Lubin invests $6.5 Million in a Fintech

On 1st October, DrumG Technologies, an organization aimed at building and operating blockchain-based applications for regulated global financial institutions, issued a press-release stating that they have partnered with Joseph Lubin’s ConsenSys. ConsenSys will be investing a whopping $6.5 million on the project. Joseph Lubin, the CEO, and Co-Founder of ConsenSys will serve as a member of the Board of Directors, at DrumG.
ConsenSys is the sole investor of the project, the press release stated. Tim Grant the, CEO of DrumG, stated that the company is delighted with the partnership. He went on to say that they were delighted to have Joseph Lubin as an “industry luminary” on board. Through this move, DrumG will get an opportunity to interact with a group of professionals and global resources of ConsenSys, he added.
Lubin stated:
“We are also excited to enter the marketplace with our unique ledger appropriate positioning and to play a significant role in driving towards the generation of true business value via the deployment of enterprise blockchain networks.”
He further added:
“We are excited to partner with DrumG Technologies as a strategic investor and as a part of our broad portfolio of activity in the enterprise distributed ledger space. “
Lubin said that the DrumG team had a proven experience in delivering enterprise solutions to regulated markets combined with the knowledge of blockchain technology. In his opinion, the aforementioned expertise of DrumG will serve as a valuable part of the global financing service offering of ConsenSys.
DrumG will be focusing on building its initial applications on Ethereum and R3’s Corda blockchain platform.
Grant also said that the blockchain platforms have seen a “tremendous evolution” over the last three years and the level of sophistication in the financial community has increased over time.
Furthermore, he said:
“There is still work to do to get to functioning systems in production. We believe in delivering solutions that generate true business value on a timeline measured in months rather than years,”
He went on to say that these solutions will require a focused attention on deployment, a deepened understanding of the market in a financial and technological aspect. He also stated that hands-on experience on advantages and disadvantages of different enterprise platforms will be beneficial.
DrumG has already begun working on two enterprise applications, a Titanium network, and a post-trade reconciliation network for hedge funds, prime brokers, fund administrators, and auditors.
The Swiss-based financial giant Credit Suisse will act as the founding institute for the Titanium network. Titanium will serve as a decentralized network that is cryptographically secured Over The Counter [OTC] consensus-based data solution, to provide bank trading and valuation operations.
The post-trade reconciliation network is proposed to be built on R3’s Corda Enterprise platform. The company intends to bring it to the deployment phase in late 2019.
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Source: AMB Crypto

Ethereum [ETH]’s Joseph Lubin says older technologies are built on a flimsy foundation

Recently, at the London’s Blockchain event, Joseph Lubin, the Co-Founder of Ethereum, Daniel Larimer, the CTO of BlockOne, and Kevin Hobbs, the CEO of Vanbex appeared as panelists wherein they discussed what the blockchain technology offered and the future of the blockchain industry.
Larimer stated that the biggest excitement for him was to see the blockchain technology being applied to all businesses and not limited to the finance sector. Speaking about the use cases of EOSIO, he stated that the blockchain was applied in different places like the email, social media, and decentralized exchanges.
Larimer went on to say:
“Particularly, the bridge of blockchain from just being a technology to something that is seamlessly integrated… people don’t know they are using the blockchain. I think that’s the real future of the technology.”
According to Daniel, in the present scenario, the blockchain was a fundamental aspect in terms of security. Moreover, he stated that it was a “back-end thing” that businesses were going to adopt. In his opinion, companies like Facebook and Twitter, that don’t upgrade to this technology in the next 10 years will be deemed as negligent.
He also said that the technology was going to change the way people dealt with legal documents, identity, and user consent. Daniel said that EOSIO was trying to incorporate all of the above and ensure that their customers don’t sign up to  something that is false and that it actually provides meaningful  agreements that “enable communities to cooperate in new ways.”
Kevin Hobbs, the CEO of Vandex, also spoke about the future of the technology. He said that Vanbex had been working with over a hundred companies since 2013 to help them grow in the blockchain space. He stated that through this process, the company realized that a single solution was not going to solve all the problems.
Addressing the same, Hobbs stated that the company started creating multiple solutions to drive the adoption of the technology. Exemplifying his statement he said:
“If you look at the Internet in 1991, the first website was launched in 1994, the first search engine was launched in 1997. Amazon had over a million users, so in a decade the internet went from an idea to an iteration that everybody can use. That’s what we’re lacking in blockchain.”
Joseph Lubin, the Co-Founder of Ethereum also brought in his views on the matter. He stated that they were excited about bringing forth a technology that will enable the world to build better systems for itself.
According to Lubin, the layers of technologies built from thousands of years are sitting on a “flimsy foundation, and a subjective trust.” He said that people are beginning to move away from a world of top-down command and control hierarchical system to automated trust systems. Through this shift, he stated, people will to be able to build rule systems for societies, agreement among parties and nation-states and guarantee its execution on the blockchain.
Explaining further, he said:
“The thesis there is if you’re gonna build these foundational elements, if you’re going to move all of the native foundational elements, like identity, and money, and government certificates and reputation and agreements into natively digital form, decentralization is very important.”
Lubin said that it was a radical decentralization where there must exist tens of thousands of nodes that can inspect data on the platform, inspect programs and verify that the programs have not been altered since it was last used without notification. He concluded by stating that the aforementioned concepts are the foundations on which layers of infrastructure must be built on.
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Source: AMB Crypto

Bitcoin Stable, Altcoins Falling Hard Meanwhile Joseph Lubin says “There’s so much Growth Ahead”

Bitcoin price is maintaining somewhat of a stability as it tests key support at $6,000 while BTC dominance is exploding as it hits year’s high at 57.8%. However, altcoins are going down fast while Ethereum co-founder Joseph Lubin shares growth just getting started.
Bitcoin testing key support at $6,000, BTC dominance exploding
The world’s leading cryptocurrency is still feeling the red, however, the price is maintaining some semblance of stability. At the time of writing, Bitcoin has been exchanging hands at $6,260. With a market cap of over $108.8 billion, it is managing the daily trading volume of $3.8 billion. Today’s price range has been between $6,218 and $6,307.
Though it is trying to stabilize, Bitcoin price is still consolidating as shown in the one month chart below.

There is a possibility Bitcoin could further stumble down and test the wedge bottom. Meanwhile, BTC dominance is skyrocketing having reached the year’s highest at 57.8%. Actually, last time, Bitcoin Dominance has been this much was in early May last year.

Altcoins plunging hard
If we take a look at the top altcoins, everyone is in the deep red as shown here in the below chart:

Only a few of the coins are in the green viz. Chainlink (LINK), Dragonchain (DRGN), TenX (PAY), and Dai that too between the range of 0.50% to 2.50%.
Whereas, all the other cryptocurrencies are plunging hard as much as over 15% with the heaviest loss bearers being Nebulas (NAS), Nano, Gas, FunFair, and Waltonchain (WTC).
Also, read: Bitcoin Drops More despite EU Watchdog’s Bullish Sentiments, Will it Hit $70k by 2021?
Ethereum co-founder Joseph Lubin says growth just getting started
On one side the market is plunging, on the other side Ethereum co-founder Vitalik Buterin’s comments of growth hitting the ceiling shook and created a lot of uproar among the crypto market.
Though he did clarify later that with no room for growth, he meant prices have no room to increase 1000x, it still has experts and big names from the market speaking out.
In our previous article, we shared how Binance CEO Changpeng Zhao and Tron (TRX) co-founder Justin Sun disagrees with Vitalik despite his clarification.
Now, Ethereum co-founder Joseph Lubin has come out and is stating that the growth has a long way to go:
“Vitalik is brilliant, but I would have to disagree with him on that. This is a technology that’s going to impact how economic, social, and political systems are built over the next few decades. So we’re really just at the start of this. There will be so much evolution.
The technology is still fairly immature. But there’s going to be so much evolution in this space and everything that’s an asset right now is probably going to have representation as a crypto asset at some point in the future. So there’s just so much growth ahead.”
Well, the crypto market is still has a long way ahead of it not only in terms of technology, development, and growth but also the price which hits a new high every year.
The post Bitcoin Stable, Altcoins Falling Hard Meanwhile Joseph Lubin says “There’s so much Growth Ahead” appeared first on Coingape.
Source: CoinGape

Ethereum [ETH] Co-Founder plans to revolutionize the media industry with ‘Civil’

Day two of TechCrunch Disrupt 2018 conference in San Francisco saw the entire ConsenSys team that including Ethereum Co-Founder Joseph Lubin, Chief Strategy Officer Sam Cassatt, and Chief Marketing Officer Amanda Gutterman, speak on the company’s growth architecture, the price and the company’s new pet project, Civil.
Gutterman, who has helped in shaping ConsenSys into an entrepreneurial powerhouse, stated that with the advent of applications like Truffle and Metamask, the organization is heading for a staggering growth rate. Truffle is the most used Ethereum developmental framework while Metamask is a Google plugin that allows users to run Ethereum applications directly on web browsers.
Sam Cassatt added that Infura, a ConsenSys developed Ethereum access point has over 8 to 10 billion Application Programming Interfaces, a sign of the development rate. The officials from the organization also stated that ConsenSys has met its own needs instead of the markets’, making it a self-sustaining body that can cater to user needs.
Joseph Lubin elucidated on the sheer number of ideas present in the ConsenSys roster, revealing to users that there are over a hundred ideas waiting to be developed within the company. He also said that investing in new blockchain based ideas are detrimental to the growth of ConsenSys, looking for “new, cool Ethereum based projects”.
The Ethereum Co-Founder was candid in pointing out the scene change between 2015 and 2018, stating that when earlier he was considered a “crypto-anarchist”, people now looked at him as a tech disruptor.
Moreover, Lubin was confident in stating that ConsenSys was contributing to the blockchain story, bringing up another one of the company’s pet projects called Civil. It is a blockchain based project targeted at the media industry. The main functionality of Civil will be to make journalism completely legitimate and help in reporting facts and figures. The officials also said that features like permanent archiving and live tie-ups with media houses.
Amanda Gutterman broke down Civil for all the users and holders, saying that the project will enable any person to start their own newsroom and will also make journalism more robust. It will also give reporters and newsrooms a chance to reduce plagiarism and keep journalistic integrity at their core.
Lubin also spoke about how prices play a major role in determining the effect of a cryptocurrency in the market. He said:
“There is a reason why I am sitting in front of all you wonderful people. Ethereum is right up there on the list and that enables us to give you fantastic products.”
The officials went on to say that cryptocurrency price is also a factor in the talent pool that contributes towards a particular cryptocurrency: the better the price, better will be the pool.
The post Ethereum [ETH] Co-Founder plans to revolutionize the media industry with ‘Civil’ appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum [ETH]’s Joseph Lubin discusses ConsenSys, cryptocurrency and blockchain

In the ongoing San Francisco edition of Tech Crunch Disrupt 2018, users and cryptocurrency holders had the opportunity to get a clear understanding of cryptocurrency, blockchain technology, and ConsenSys from the officials of the company including, Joseph Lubin, Sam Cassatt, and Amanda Gutterman.
Lubin, who is also the Co-Founder of Ethereum, went on to talk about the Ethereum project and the version 1 of Ethereum, stating that the main idea to build ConsenSys came from the need to build products at the application layer. He also stated that there was some nervousness in establishing a blockchain company in the United States and gave that as the sole reason why ConsenSys is Switzerland based.
In an earlier interview Lubin had said:
“ConsenSys helps to accelerate, or even launch, companies and projects that use Ethereum as a platform. We are re-architecting how companies or groups of people will offer services to consumers and other businesses and there are definitely some hot-button issues around cryptocurrencies, as there are hot-button issues with respect to securities law around the world”
The Co-Founder also added that the road to building ConsenSys from the ground up was filled with gathering application developers, establishing an app store and creating a reliable accounting system.
Lubin also added that:
“ What makes ConsenSys special is the fact that we had so much to do, but such a lack of infrastructure to help us achieve that. This was the point we decided that we should build our own developer tools; ended up making Metamask, the ConsenSys Academy and even ventured into consulting.”
The panel went on to talk about the ecosystem within ConsenSys, pointing out to the various projects that over a thousand people were working on.
Sam Cassatt, the Chief Strategy Officer at ConsenSys said that the company focusses more on the level of abstractions bought up, rather than the rigid ideas around which employees have to function. The main focus of the organization is to build a functioning protocol layer on which a plethora of companies can be built and not just applications.
Lubin added onto Cassatt’s statement by saying that the “build what you want” ideology is what has enabled ConsenSys to pivot towards establishing a venture studio, ecosystem creation, and blockchain consultation ideas.
Furthermore, Joseph also emphasized on the formula of modularizing and granulizing functionalities within the blockchain space. Amanda Gutterman, the Chief Marketing Executive of ConsenSys later talked about the different products developed by the ConsenSys team – Truffle, the most used Ethereum and developmental framework and Metamask, a google plugin. Metamask was in the news recently when they announced that the plugin will stop automatically injecting Web3 instances during loading durations on web browsers.
The ConsenSys team reported that the main aim of the organization is to develop blockchain as a whole from the grass root level, with a vision to bring on the dawn of the ‘application layer’ age.
The post Ethereum [ETH]’s Joseph Lubin discusses ConsenSys, cryptocurrency and blockchain appeared first on AMBCrypto.
Source: AMB Crypto

XRP is not a Blockchain Technology says Ethereum Co-Founder Joseph Lubin

Joseph Lubin, appeared on Bloomberg to speak about the current state of the crypto market, Ethereum’s development and competition, but ended up commenting on Ripple’s XRP and EOS not much to the likes of the investor community of both these coins.
Ripple and XRP are not real blockchain technology
Speaking to Bloomberg about the current state of the cryptocurrency market and Ethereum development, Lubin gave an interesting take on two of the industry’s biggest names which have been under the scanner because of their certain problematic features which do not completely meet the blockchain criteria.  Ripple’s XRP has been marred by centralization issues as most of the coins are held by Ripple company and its founding promoters. These centralization issues are have also made it difficult for regulators whether to classify Ripple’s XRP as a security or not. On the other hand, Block.one’s EOS, is also facing similar issues of centralization as there is wealth inequality on the EOS network – the top 1.6% of token holders controlling 90% of the supply while the bottom 44% have to make do with a mere 1% of EOS. It even has a bunch of only 21 block producers which somehow makes it difficult to trust as a blockchain because its decision making is controlled by these small number of people.   
Lubin, on being asked about the what would happen if “other protocols like XRP and EOS, which trade speed or decentralization for security” gain favor in the mid to long-term, replied in a very unfazed manner saying
“Ripple isn’t really a Blockchain technology, it’s sort of a payment system, so I don’t really consider that a competitor,”
Continuing his comments on EOS Lubin described the EOS as “a slightly, maybe slightly, decentralized approach at building a Blockchain system” addressing to EOS’ decision-making system, consisting of, as he put it, “twenty-one people who know one another.” He goes on the add that “EOS is an interesting technology but it’s incredibly dangerous to treat it as a layer-one technology,”
also, read: Massive Adoption Everywhere, We are Living in Exponential Times- Ethereum Co-founder
Pricing bubbles are good for the growth of the ecosystem
On being asked about current drop in prices, Lubin answered that price collapse is not a new thing to cryptos as in its nascent period of existence has already seen six bubbles each of them epic than the previous one. According to him, each of these bubbles has bought attention to the crypto ecosystem and has also bought entrepreneurs, developers, money along with the prospect of building the fundamental structure and creating more value. He believes that in a bubble scenario, it is usually trader type people that move in and out the ecosystem when prices rise and collapse but the talent that gets in to bring a fundamental change usually stays. Because of this rise and fall in prices, the crypto community is almost 2x of what it was 8 or 10 months earlier. The ecosystem is growing and at this moment what is being witnessed is the inception of layer 2 technology companies building their coins and tokens over the layer 1 which was known as the trust layer.
He said,
“I absolutely expect that there is a strong correlation between the rise in price and the growth of fundamental infrastructure in the ecosystem and the growth of development in the ecosystem. We are probably two orders of magnitude bigger as a developer community than we were eight or 10 months ago.”
Joseph Lubin has dismissed XRP and EOS and has somehow termed them as centralized systems giving Ethereum a complete edge and believes it will be significant in years to come for blockchain industry which is bound to see consolidation in some years to come.
Will we see a hit back to Lubin’s statement from EOS and XRP?  DO let us know your views on the same.
The post XRP is not a Blockchain Technology says Ethereum Co-Founder Joseph Lubin appeared first on Coingape.
Source: CoinGape

Ethereum Cofounder, Joseph Lubin, Convinced that India will Accept Cryptocurrency in Future

While Indian regulators are still trying to find answers related to cryptocurrencies, Joseph Lubin, co-founder of Ethereum — which is the second largest blockchain network after Bitcoin has come in support of the country and believes India will accept the ecosystem around virtual currency in future.

Ethereum cofounder Joseph Lubin has big plans for India

Joseph Lubin, who created ConsenSys in early 2015 as a software company to develop decentralized software services and applications that operate on the Ethereum blockchain, recently launched an office in India as it looks to grow the Ethereum blockchain ecosystem in the country.  According to him, India has fabulous human resources and great institutes which can contribute to the blockchain community and they have partnered with an Indian Institute of Technology are discussing multidisciplinary research opportunities with the institute.

According to him, It is going to take time for cryptocurrencies to flourish in India as regulators, political leaders and officials need to be persuaded about the advantage of the cryptocurrency.

“Once people explain things to you and you see the power of technology, you also understand that it can protect systems better. I am fully confident that this country will embrace profound technology,”

Lubin told ET in an interview.

Lubin also mentioned that they have been meeting regulators in India and also in many countries around the world and has been progressing with respect to the security law and as the progress is Lubin believes it going to take some time to be accepted.

Cryptocurrencies are a narrow slice of the crypto-assets space. There are many crypto commodities, crypto derivatives, and cryptocollectabiles and as Lubin puts that these other crypto assets that can be implemented in India.

As part of its future plan with respect to development, ConsenSys plans train software engineers to be developers on blockchain software. They plant to take people from varied industries hand-hold them to help speed up blockchain. The company also plans to do venture investing in India so that they can fund companies that use the infrastructure tools that allow developers to build blockchain systems.

Also, read: Ethereum Founder Vitalik Buterin Shares his Insights on Cryptoeconomics

Where Ethereum plans to help India

ConsenSys wants to build a “very strong” Ethereum blockchain-developer community numbering 20,000-50,000 according to Kavita Gupta who was appointed as Head of Consensys India. Siting with a team of 6 people in Delhi office, she plans to hire another 40-50 in the coming months

“It is for this that we are launching our first education programme in India in coming months. We have not done this anywhere else. We are going to offer a number of courses and train people,”

she said.

Kavita said that ConsenSys is now looking to do projects for Andhra Pradesh government in the areas of supply chain and land titling. Talks are also on with Niti Aayog for a project on land titling, she said.

Stating that ConsenSys has some of the best solutions for the financial sector with respect to settlements or custodial solutions, she said that talks are on with three private sector banks to offer Ethereum blockchain technology-based solutions to them. The Company has have 48 solutions which cover almost every industry.

All these solutions will be slowly available in India over time. Currently, the company is at the early stages of a land-title registry system, on top of which you can tokenize ownership of real estate. In one of the states, the company is also working on microlending project.

It’s interesting to see, Ehtereum and ConsenSys upping the stake in India, as they take on Bitcoin and Ripple to be a top blockchain and cryptocurrency in India.

Will Ethereum be able to displace Bitcoin and Ripple’s plans to achieve the top position in the country that is still working on its regulation? DO let us know your views on the same.

The post Ethereum Cofounder, Joseph Lubin, Convinced that India will Accept Cryptocurrency in Future appeared first on Coingape.

Source: CoinGape

Hodler’s Digest, July 9-15: While Mining ETH is a ‘Side Hustle’ for Google Co-Founder, Mining BTC for Russians May Fund Election ‘Interference’

More than 80 percent of ICOs in 2017 are identified as “scams,” while the UK sees crypto becoming mainstream within a decade — read more in our Hodler’s Digest

Source: Coin Telegraph