CEO of ConsenSys during his speech at the SXSW conference stated that the massive introduction of blockchain technology will allow the global economy to grow 10 times in just a couple of decades.
He stressed that there aren’t a lot of ordinary people now who are using products based on distributed ledger technology in their everyday life. After that, he compared the blockchain technology with e-mail which was not so widely popular in the 80s of the XX century.
“There weren’t a lot of ‘normal’ people firing email around in 1983.”
Besides this, in his speech, Joseph Lubin recalled the upcoming Euthereum 2.0 update. He believes that a new version of Vitalik Buterin’s creation won’t have so many of the current flaws. Lubin also said a few words about the first cryptocurrency:
“In Bitcoin and currently in Ethereum, you need to have specialized hardware, burn lots of electricity, waste lots of computation, to basically keep everybody in sync. [With Ethereum 2.0, in 18 months] we’ll have a blockchain system much more powerful and scalable that uses orders of magnitude less energy.”
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