Ethereum to Intensify its Decentralization

14 November 2018, AtoZ Markets

In 2014 Vitalik Buterin introduced Ethereum at the North American Bitcoin Conference. Four years later, at the Web Summit in Lisbon, Joseph Lubin the co-founder of Ethrerium, talked about its profound decentralization. 

Ethereum a key player in internet transformation

In his conference talk, Joseph Lubin, the co-founder of Ethereum and ConsenSys startups, emphasized the importance of Ethereum for developing the so-called Web 3.0 – a new generation internet experience that will utilize decentralization to a high degree.

Lubin titled Ethereum a “viable candidate for web 3.0”, largely because of its interoperable and radically decentralized nature. Although he emphasized, it might take “a few years” as a process “of adoption, use case exploration, user interface, and user experience definition“ – will keep them “ busy for years.” Lubin called an increasing blockchain technology a “catalyst“ of increased innovation of all levels of society, creating a “self-determined, sovereign identity”, which will lead to wealth creation as “people seek to express themselves more through a number of avenues including an increased appetite for luxury” as Lubin explained. He stays optimistic about the growth of Ethereum, which might be due to the large support of power players in the blockchain venue. the financial giant JP Morgan, as CCN recently reported, is planning to use Quorum, its enterprise version of the Ethereum blockchain, to tokenize gold bars. In his recent report in the Financial Review, JP Morgan’s head Umar Farooq described JP Morgan as “big believers in Ethereum,” which differs from the language used by JP Morgan CEO Jamie Dimon describing Bitcoin. 

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