Cryptocurrency has emerged as a powerful weapon for Ukraine in its battle against Russia, says Joe Lubin, the founder of ConsenSys and Ethereum co-founder. He believes that this could be crypto’s point of no return for steady integration into global markets.
Lubin highlighted that this is another moment, a milestone for the crypto industry. It is like stepping out of the void and into mainstream adoption. The Canadian-American entrepreneur pointed out that there’s a national security issue as well. But is going to be a point of no return for the overall industry. Cryptocurrency has proved that its technology is “very powerful and unstoppable”.
Lubin says crypto will be used by various nation-states, irrespective of what other nation-states say or do. This means that countries have to create policies and get savvy. He criticized the United States for dragging its feet around crypto. Moreover, the Ethereum co-founder brushed off President Joe Biden’s hyped executive order as “kind of funny”.
Furthermore, the entrepreneur likened crypto to an “arms race”. Lubin foresees governments wanting to use crypto as a powerful tool and weapon. He believes countries don’ want to be left out from the crypto race and be as much capable as their neighbors with powerful weapons.