Ethereum Co Founder Lubin: Markets Has Never Been Stronger
During his interview with CNBC, Ethereum co-founder Joseph Lubin stated that the crypto market is becoming stronger each day. Lubin said:
Digital currencies are not on the edge of a collapse. We’ve seen lots of booms and busts in our ecosystem over the last nearly 10 years, and our ecosystem has never been stronger than it’s been.
I measure that in terms of the number of projects, the number of people who have been drawn into the space, entrepreneurs, developers. Its order of magnitude is bigger than it was, and the foundational structure is getting built out.
Lubin also spoke about the regulatory issues. The Ethereum co-founder insisted that lots of decentralized Blockchain projects are in no need for regulation as he expects lots of self-regulatory moves will come to cryptocurrency markets in the future. Lubin said:
Bitcoin is a cryptocurrency, Ether has some characteristics of a cryptocurrency, but it’s really a crypto fuel or a crypto commodity, and so the Ethereum platform is a decentralised application platform.
There are many blockchain-based or decentralized protocols and platforms, but none of those will need to be regulated. One doesn’t regulate technology, one regulates the use of the technology.
This kind of self-regulatory approach has been used by Japan Virtual Currency Exchange Association (JVCEA) before. JVCEA was formed after the hack to Coincheck, one of the largest exchanges of that time. The association is hoping to bind exchanges together as they are also looking to make them more secure overall. So far, it is safe to say that they have gained lots of respect but there are still some issues needs to addressed before it is too late.
Lubin statements is also certainly strong. As an Ethereum co-founder, his words about the markets is important. Some of the analysts also constantly saying in technical wise, the cryptocurrency markets is getting stronger each day.