Different countries and jurisdiction have reacted differently to the rise of Blockchain. From some, blockchain tech and the very popular cryptocurrencies have been met with stiff resistance. Others have passed billed and laws that are favorable to the exploration of blockchain tech, while some have decided to sit still and observe as this nascent tech unfolds. For most of us crypto enthusiasts and investors, what really matters is that our favorite coin moons and cryptocurrencies see the light of the day, gaining widespread adoption.
In line with this, the co-founder of top cryptocurrency, Ethereum, Joseph Lubin has called Berlin “the most important city in the blockchain cosmos”. He pointed out that Berlin had all it takes for blockchain solutions to thrive, stating that: “Berlin has the infrastructure, Berlin has the talent, the really good programmers are here.” And like a wise man, he added that if the city is to maintain its status as the hub of Blockchain, then “the government needs to set up more programs to promote blockchain.” And really, I think it will become a battle of supremacy in the coming months and years, as more governments and organizations tryout blockchain solutions.
Still, on his interview with Cointelegraph, Lubin noted that blockchain is still an infant technology and he is focused on the development of apps on the Ethereum blockchain through his company ConsenSys. He went further to state that:
“We’ve seen a lot of bubbles bursting, and will do so more often in blockchain and cryptocurrency. At $30, Bitcoin was a bubble, at $200 and at $20,000 even.”
Time and time again, bitcoin has proven critics wrong. While a lot of the price action in late 2017 was based on FOMO, there is no doubt that the hype and attention from the media can sometimes be a good thing, since it brings money into the market and this, in turn, drives the tech forward.
He also pointed out one of the core issues that gave blockchain some traction – control. As it stands, the government and major corporations control data and information, often profiting from user data. Blockchain came with a solution – decentralization. He added that: “We have to get away from silos, from companies that collect data and make money, and people should have that back in their hands… [and Ethereum] enabled, essentially, billions of software engineers to not worry too much about what is going on the protocol layer and just build with tools similar to what they are used to using when building web applications and mobile applications, and identify their own problem, and build their own solution.”