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The co-founder of Ethereum, Joseph Lubin, predicted that the blockchain would be the main catalyst for the growth of the global economy over the next 10 to 20 years.
Speaking in a speech At the SXSW conference in Austin on March 14, Lubin said he expects a tenfold increase in the global economy over the next two or three years and that Blockchain is fully involved in the majority of business and market growth.
Lubin explained his prediction by comparing the flow of blockchain and cryptocurrency to that of the Internet and email in the years leading up to the phenomenon. Speaking on the issue of mainstream adoption and the room left for blockchain growth, Lubin said
"There were not many" normal "people who sent e-mails in 1983."
The co-founder of Ethereum also took the opportunity to explain the benefits of the development of Ethereum 2.0 on the leader of the cryptocurrency market, Bitcoin. Lubin notably explained that the Ethereum development team was particularly interested in Bitcoin inefficiencies as benefits for Ethereum 2.0, presenting what he thought was a cryptocurrency able to overcome the current obstacles of the sector,
"In Bitcoin and currently in Ethereum, you need specialized hardware, lots of electricity, lots of calculation, to keep everyone in sync. [With Ethereum 2.0, in 18 months] we will have a much more powerful and scalable blockchain system that uses orders of magnitude less energy. "
Ethereum is still a year and a half away from launching its planned major update, which will see a monumental move from the Proof of Work system to Proof of Stake, but the developer is already looking to see how Ethereum can revolutionize the industry. ;improve. its current framework.
Lubin made the headlines earlier in the week for similar comments related to the benefits of blockchain, when he claimed that decentralized technology could be very beneficial to content creators. Lubin singled out artists as a subgroup that would "dramatically benefit" from the adoption of the blockchain, allowing them to better control the distribution of their content while dictating the parameters of its consumption.
During this interview, Lubin added that the blockchain eliminated the need for intermediaries in the creation and distribution of content, a factor that would greatly benefit the bottom line of musicians and other creative performers.
"I think artists in the music industry capture on average about 11 or 12% of the value of the industry and that major record companies absorb about 70% of it. We can replace these record companies with smart contracts on the Ethereum platform. "
Cryptocurrency, as a whole, experienced a positive price increase in 2019 after a catastrophic year for coin prices in 2018. Despite periods of price swings, bitcoin achieved its lowest volatility in prices over the last 30 days since November 2018. In addition, the majority of leading cryptos have seen double-digit price hikes since the beginning of the year, with altcoins leading the market. Ethereum achieved a good price rebound after a fall in valuation, with the rest of the industry setting its highest level in early 2018.
The badytic company Electric Capital reported last week that Ethereum had the most robust Monthly contribution of developers, generating the double of Bitcoin, which occupies the second place.
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