Joseph Lubin, the co-founder of Ethereum and founder of ConsenSys, respectfully disagrees with Vitalik Buterin, the creator of Ethereum, about the future of the crypto market. He states that the best I yet to come and that blockchain will touch most, if not all, of the world's industries, according to an interview with CNN.
During a blockchain conference in Hong Kong, a few days ago, the founder of Ethereum, Vitalik Buterin, stated that the chance for the industry to grow thousands of per cent is probably gone. The cryptocurrency market has become too mainstream according to the founder.
"If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn't an opportunity for yet another 1,000-times growth in anything in the space anymore.", Buterin said.
The co-founder of Ethereum does not agree. During a recent interview with CNN.Money, Lubin stated that these booms that we have seen are always about recognising the potential of 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. ConsenSys CEO claims that that the technology is still rather immature and under development, so we have to wait until it further evolves.
"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".
Lubin argues that the best is yet to come and that crypto assets will replace or at least represent everything that is an asset today.
"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".
Even though the best is yet to come, it is hard to believe that with the prices falling and not least the price of Ethereum that has fallen from well over $1,000 from its high to $173, according to Coinmarketcap.com. Even though it is hard to be optimistic at this point, there is positive news coming out as well. A few days ago, Google announced a collaboration with Ethereum and stepped into the Blockchain and Cryptocurrency era with the addition of Ethereum to its BigQuery platform.