Ethereum [ETH]’s Joseph Lubin calls cryptobottom for 2018 and provides insight on ConsenSys lay-off

This whole cryptocurrency space was buzzing this week as the price of all the coins made a major comeback, with many breaking their recently set resistance grounds. Apart from the price, the other story that grasped the attention of the entire market was ConsenSys lay-off.
Earlier this week, Verge reported that ConsenSys, a blockchain software development company that focuses on the development of Ethereum, would be laying off around 50%-60% out of the 1200 employees. This news came in the light days after ConsenSys announced a reduction of over 13% of mesh members, adding that they are “streamlining” many departments in the company, including ConsenSys Solutions, Spokes and Hubs services.
Nonetheless, Joseph Lubin, the Founder of ConsenSys and the co-founder of Ethereum, spoke about the news in a series of Tweets. Prior to this, the co-founder of Ethereum spoke about the current price trend of the cryptocurrency market, and called the bottom for the year 2018. He stated:
“I am calling the cryptobottom of 2018. This bottom is marked by an epic amount of fear, uncertainty, and doubt from our friends in the 4th and crypto-5th estates.”
This was followed by Lubin stating that he has witnessed a “rather typical tune: the alarmed, the eulogistic, and the gleeful”, among the “chattering class the past few weeks in response to @ConsenSys 2.0”.
Lubin said:
“ConsenSys remains healthy and is engaging in a rebalancing of priorities and activities which started about nine months ago. We are creating transitions for some projects that we believe don’t fit as well into the ConsenSys 2.0 vision as they did in ConsenSys 1.0, and we are working on ways to continue to support these projects going forward as we sketch plans for a ConsenSys alumni network.”
He went on to say that ConsenSys will not stop investing in external projects and that they will be hiring for their internal projects that are “core” to their “forward looking” business. Lubin added that the company has hired 15 individuals last week who have the job descriptions for they are currently hiring for.

“Some within ConsenSys whose roles have been eliminated recently are looking to fill other roles at ConsenSys. This is a rebalancing of our activities and workforce.”

Joseph Lubin’s statement on ConsenSys 2.0 | Source: Twitter
Vitalik Buterin, the co-founder of Ethereum said:
“Expand up to 1100 people, shrink to 600, keeping the 6/11ths that are most productive: OMG consensys is dead! Expand up to 600 with no shrinking, announce every step of the expansion: wow, the company is prospering! Lulz.”
Vitalik Buterin’s clarification on his previous statement | Source: Twitter
Riccardo Spagni, lead developer of Monero said:
“Expand up to 1100 people, shrink to 600, keeping the 6/11ths that are most productive: they have no idea how to manage capital, capacity plan, or hire. Expand up to 600 with no shrinking, announce every step of the expansion: wow, clearly competent & experienced leadership.”
To this, Buterin said:
“Oh I agree it was a bad to hire 500 people they couldn’t keep. That said, if that’s your angle, then the overlooked news here is that they’re getting *more* competent”
The post Ethereum [ETH]’s Joseph Lubin calls cryptobottom for 2018 and provides insight on ConsenSys lay-off appeared first on AMBCrypto.
Source: AMB Crypto

Consensys CEO: The Future of Crypto is Very Bright, 2019 Will be a Watershed

CoinSpeaker

Consensys CEO: The Future of Crypto is Very Bright, 2019 Will be a Watershed

The past month hasn’t been good for Ethereum and it’s co-founders’ company Consensys. With Ethereum going below $90 support line, and mainstream media attacking Consensys on all fronts, Consensyss’ image has already been tarnished.

Consensys CEO: The Future of Crypto is Very Bright, 2019 Will be a Watershed

Continue reading at Coinspeaker
Source: CoinSpeaker

Half of Concensys’ Workforce May Soon Leave the Company

CoinSpeaker

Half of Concensys’ Workforce May Soon Leave the Company

ConsenSys announces plans to shed off at least 50% of their workforce. The bear markets are to blame for this move as the company aims to refocus their operational and management strategies.

Half of Concensys’ Workforce May Soon Leave the Company

Continue reading at Coinspeaker
Source: CoinSpeaker

Bitcoin’s Biggest Congress Enthusiast Introduces a Pro-ICO and Crypto Legislation

CoinSpeaker

Bitcoin’s Biggest Congress Enthusiast Introduces a Pro-ICO and Crypto Legislation

Warren Davidson, the biggest bitcoin enthusiast in Congress is set to introduce a new pro-ICO and crypto legislation. He believes that cryptocurrencies can thrive in a Federal-regulated environment.

Bitcoin’s Biggest Congress Enthusiast Introduces a Pro-ICO and Crypto Legislation

Continue reading at Coinspeaker
Source: CoinSpeaker

Ethereum Price & Technical Analysis: ETH Still Being Weak

CoinSpeaker

Ethereum Price & Technical Analysis: ETH Still Being Weak

Ethereum is trying to recover after a selloff on Thu, Dec 6, trading at around $104.02, reports Dmitriy Gurkovskiy, Chief Analyst at RoboForex.

Ethereum Price & Technical Analysis: ETH Still Being Weak

Continue reading at Coinspeaker
Source: CoinSpeaker

ConsenSys CEO is Planning Company Restructure Following Bear Market

The continued bear market is taking its toll on cryptocurrency investors, miners, and businesses alike, and has prompted ConsenSys to consider restructuring its business plans so it can adapt to the new market environment and continue to thrive.
ConsenSys CEO Joseph Lubin Alerts Staff to Major Restructure
In response to the ongoing “crypto winter” that has seen cryptocurrencies like Bitcoin and Ethereum plummet as much as 90% from their all-time high prices, and in recent weeks nosedive an additional 50% as the market participants capitulate, blockchain technology solutions provider ConsenSys will be altering their business strategy to ensure its long-term survival.
In a note to ConsenSys employees from founder Joseph Lubin, who also helped co-found Ethereum alongside Vitalik Buterin and Gavin Wood, told his staff the company will be reorganizing, and entering a new phase of the company’s strategy called ConsenSys 2.0, reports Forbes.
Related Reading: Bear Market Strikes Again: Ethereum Classic Dev Shuts Down
Lubin explained that the company now finds itself “occupying a very competitive universe,” and “must retain, and in some cases regain, the lean and gritty startup mindset that made us who we are.”
“We must recognize that what got us here will probably not get us there, wherever ‘there’ is,” Lubin added.
ConsenSys 2.0 Explained
While employees first learned of the changes this past Friday in a company-wide letter, the new strategy is already being rolled out.
ConsenSys 2.0 will see the company drop underperforming projects and the firm’s investment branch will now function more similarly to a traditional startup accelerator that involves strict deadlines and tougher standards.
The ConsenSys CEO told Breaker Mag that the company will become “a lot more rigorous in terms of milestones and timetables,” and will sacrifice projects with less long-term potential “if we’ve come to the conclusion that our earlier assumptions were incorrect.”
ConsenSys 2.0 will center around five “pillars,” including further developing the Ethereum ecosystem, funding startups through its venture arm, offering businesses blockchain solutions, providing education about blockchain, and instilling a “culture of excellence and accountability.” The firm will hold itself more accountable in the future to ensure profitability during the difficult market climate.
Related Reading: Ethereum Price Analysis: ETH/USD Could Revisit $100
Despite the ongoing downtrend, cryptocurrencies like Ethereum have been suffering through for much of 2018, Lubin is undeterred in his beliefs that blockchain and Ethereum will ultimately become a success.
“In ConsenSys 1.0, we built a laboratory instrumented to prove the moon existed, using complex engineering and math and creative philosophical arguments,” Lubin elaborated. “Now we need a streamlined rocket ship to get us there, since the actual proof, ultimately, is in the landing,” he said.
To put the market troubles into perspective, Ethereum is currently trading at $102 at the time of this writing, down 92% from its all-time high of $1,417.38 back in January of this year. Lubin attributes this to “riskier assets around the world” correcting and Bitcoin’s price “affecting all the different tokens.”
Featured image from Shutterstock.
The post ConsenSys CEO is Planning Company Restructure Following Bear Market appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ethereum [ETH] co-founder Joseph Lubin: Blockchain is more than a market, it’s a movement

Joseph Lubin, the co-founder of Ethereum [ETH], recently took to Twitter to note how the Ethereum blockchain is slowly improving the financial and technological infrastructure of numerous developing countries. Lubin named Chile and Philippines as their prime adopters.
The performance of Ethereum has not been up to the mark this year, however, Lubin who is also the known founder of ConsenSys, a software production studio, is promoting it through its technology.
Source: Twitter
Chile’s National Energy Commission had also adopted Ethereum earlier this year. They stated that they picked Ethereum due to its ability to “augment levels of security, integrity, traceability, and confidence in the information available to the public”.
The nation had adapted Ethereum’s Proof-of-Work blockchain to track energy data.  The Ministry had expressed their appreciation for providing their data and for helping against hacking and manipulation, reported Newsbtc.
Likewise, Philipines’ Union Bank had also partnered with Lubin’s ConsenSys to develop Ethereum-based banking solutions for rural areas of the country. The decision was taken when a survey was done by the Bangko Sentral ng Pilipinas, the country’s national bank noted, that 77% of the Filipinos were unbanked.
According to the publication, the chairman of Union Bank, Justo Ortiz, said that Ethereum’s blockchain technology would help them “crack the hole of financial inclusivity”.
Lubin went all out on Twitter about the technological benefits through blockchains and people responsible for this. Lubin tweeted:

“I believe in #blockchain technology because of the people behind it. The developers, engineers, and technologists who #BUIDL The smart contract experts who audit and secure the code The designers who care deeply about user experience The marketers who tell the story of Web3″.

Along with praising the people behind the technology, Lubin highlighted the potential of crypto-assets like Ether to protect people from paying more money to pay for the same commodity, also known as hyperinflation. An example of this is Zimbabwe, which has abandoned its local currency after dealing with hyperinflation for years.

Apart from Ethereum, other crypto-asset like Bitcoin [BTC] and Dash [DASH] have rescued many hyperinflated economies. According to the publication, crypto-assets are ideal choices as they are decentralized and can be minted from anywhere to be exchanged or used as currency.

Lubin opined that the technology has numerous benefits, not only to individuals but to a nation as a whole. Lubin expressed this while saying:

“Blockchain is more than a market. It’s a movement. Blockchains are solving real-world problems. Governments get it.”

The post Ethereum [ETH] co-founder Joseph Lubin: Blockchain is more than a market, it’s a movement appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum Adoption in Developing Countries Rising Exponentially: Lubin

Ethereum has been one of the worst performing cryptocurrencies this year. But, as a technology, the project is going places.
Joseph Lubin, the co-founder of the Ethereum project, recently stated about how the Ethereum blockchain ecosystem is gradually improving the financial and technological infrastructures of many developing nations. The Canadian entrepreneur, also known for founding ConsenSys, a Brooklyn-based software-production studio, named Chile and Philippines as their prime adopters.
Chile, for instance, employs Ethereum’s proof-of-work blockchain to track energy data. Their National Energy Commission stated in April that the reason why they chose Ethereum was for its ability to “augment levels of security, integrity, traceability, and confidence in the information available to the public.” The Energy Ministry wing also appreciated Ethereum for protecting data from hacking and manipulation.
The Philippines, on the other hand, witnessed their banking giant Union Bank partnering with Lubin’s ConsenSys to develop Ethereum-based banking solutions for the country’s rural sector. The project saw its beginning at a time when 77% of the Filipinos remain unbanked, according to a survey conducted by the Bangko Sentral ng Pilipinas, Philippine’s central bank. Justo Ortiz, the chairman of UnionBank, said that Ethereum’s blockchain technology would help them “crack the hole of financial inclusivity.”

Developing nations are employing blockchain tech to leapfrog outdated financial systems.
-The Philippines is connecting rural banks via a crypto-cash payment system-Chile is using #Ethereum to track energy data-Cryptoassets are protecting millions against hyperinflation
— Joseph Lubin (@ethereumJoseph) December 1, 2018

In another event from the Philippines, the government decided to offer Manila residents rewards in Ethereum tokens Ether for cleaning up their polluted beaches.
Protection against Hyperinflation
Lubin also noted the potential of crypto-assets like Ether, in general, to protect people against hyperinflation. The term refers to extremely rapid price inflation – especially when the value of a fiat currency drops 50% every month against the US Dollar, a universal fiat reserve. The direct impact of hyperinflation is on the citizens of the countries who now have to pay more money to pay for the same commodity.
Zimbabwe, for instance, had abandoned their local currency after years of hyperinflation which at one point reached 500,000,000,000%.
Crypto-assets like Bitcoin, Ethereum and Dash, have jumped at the opportunities to aid these hyperinflated economies lately. These crypto-assets are ideal because 1) they are not controlled by any government or central bank, and 2) they can be minted at home and then be exchanged or used as currency in the mainstream.
Venezuela has become the prime example of an economy-gone-bad-and-tuned-to-cryptocurrencies-for-solace. Their hyperinflation began in November 2016, the highest in the world and the country’s history. Their hyperinflation status this year has reached 833,997% already, according to details available at Wikipedia.
The Venezuelans, meanwhile, switched to crypto solutions to indicate the abandoning of their national Bolivar altogether. Dash, for instance, launched itself at the country’s paralyzed economy and got adopted firsthand by its merchants and people. The crypto project has now launched a payment service in the region, finding customers even in global brands like Subway and Calvin Klein.
The blockchain technology is gradually becoming a go-to technology when it comes to solving financial and technological issues of economically-deprived nations.
“Blockchain is more than a market. It’s a movement,” wrote Lubin. “Blockchains are solving real-world problems. Governments get it.”
The post Ethereum Adoption in Developing Countries Rising Exponentially: Lubin appeared first on NewsBTC.
Source: New feedNewsBTC.com

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

CoinSpeaker

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

Continue reading at Coinspeaker
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.
The post Ethereum [ETH] co-founder’s ConsesSys launches Rimble Design System to foster adoption of Ethereum appeared first on AMBCrypto.
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.
The post Joseph Young also Emphasizes Growing Development Activity Rather than Prices just like Joseph Lubin appeared first on Coingape.
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.
The post Ethereum [ETH]’s Joseph Lubin invests $6.5 Million in a Fintech appeared first on AMBCrypto.
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.
The post Ethereum [ETH]’s Joseph Lubin says older technologies are built on a flimsy foundation appeared first on AMBCrypto.
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