Lubin Sees Continued Growth for the Crypto Industry

 Attendees at ETHDenver heard Ethereum co-founder Joe Lubin declare, “We are ready for a new system of the world,” and that cryptocurrencies will be a part of the next supercycle. Though not necessarily in a bull market by technical standards, most ETHDenver attendees would concur that it certainly feels that way.

Even Joe Lubin, the CEO of Consensys and co-founder of Ethereum, feels that the cryptocurrency industry is improving and that the best is still to come.

Lubin on the End of Monetary Systems and the Rise of Decentralized Trust

Lubin participated in the fireside chat called “What will drive the next super cycle,” which facilitated by Axios reporter Crystal Kim. During the discussion, Lubin mentioned the state of the current “super cycle,” whether or not retail investors would benefit from a spot BTC and ETH ETF, the community’s increased focus on developers, and the growing need for decentralization across various industries.

When asked what will trigger the next super cycle, which is a protracted period of economic growth usually brought on by a sharp increase in consumer demand, Lubin responded, “…”

“We are in this 4th turning, and we are ready for a new system of the world. The other way of thinking about it is that it’s a monetary super cycle, where the monetary systems of the world reach an end of life essentially, basically because of interest, and there’s too much debt in the system because certain generations broke the monetary system and other elements of the financial system.”

According to Lubin, “Crypto was born into an era of free money.” It originated from a time of top-down command and control, restricted money, and controlled money. In essence, the world we live in today operates on a millennium-old model of centralized, top-down trust. Authorities grant certain powers to intermediaries, who then govern by maintaining databases or ledgers that regulate entitlements and permissions.

 “Satoshi invented decentralized trust rather than centralized trust. “We had never seen decentralized trust on the planet before.”

Are spot Bitcoin and Ethereum ETFs good for the community?

 Before the approval of spot Bitcoin ETFs, crypto advocates and investors had waited more than 7 years, and while their launch may be the validation stamp that authenticates BTC’s status as a sound investment, there have always been concerns that institutional investors could dilute Bitcoin creator Satoshi Nakamoto’s true vision.

When asked if a spot Bitcoin ETF and the possibility of an ETH ETF were beneficial to the community, Lubin replied, “There are a lot of different issues in there, but in the near term, it’s a great thing.”

“The floodgates are open now, and there’s an enormous amount of value piling into the crypto ecosystem. The good thing about that is it’s going to be hard for regulators and politicians to stomp on people’s portfolios, and we’re going to see more and more funding come into our ecosystem.”

Can cryptocurrency be successful in the United States?

 In the past, regulators and politicians in the United States took a strong position against the cryptocurrency industry, and many believe that this has slowed the sector’s growth for years. When questioned if cryptocurrency can “thrive” in the United States, Lubin stated that authorities may no longer have the authority to stifle the expansion of the crypto business.

 “I believe the momentum is building, and it is unstoppable.” Under the Biden administration, the SEC has taken some actions that are real head-scratchers; there is an element of gaslighting and irrationality in some of the actions that they have brought. and the judicial branch is wonderful in seeing things clearly and ensuring that the laws of the United States of America and the Constitution are followed and protected.

Towards the end, Lubin said, “I look forward to a more decentralized governance in the United States”