Blockchain technology will power a monumental shift in society from a “scarcity to an abundance mindset.” These were the words of Ethereum co-founder Joseph Lubin speaking last week at the Web Summit in Lisbon, Portugal.
Lubin’s Blockchain Impact Theory
Delivering his keynote address at the event, Lubin, who is also the co-founder of Ethereum development startup ConsenSys, stated that Ethereum is likely to play a key role in the redevelopment of the internet as a fully decentralised ecosystem.
In Lubin’s opinion, the continued growth of blockchain technology will act as a catalyst for increased innovation at all levels of human society by creating a framework for what he describes as a “self-determined, sovereign identity.”
In other recent remarks, Lubin explained that the evolution of blockchain technology and enhanced decentralisation would lead to a future where individuals will exert greater control over their identity and agency, which will lead to wealth creation as people seek to express themselves more through a number of avenues including an increased appetite for luxury.