Crypto Among Ukraine’s Best Weapons Against Russia, According to Ethereum Co-Founder Joe Lubin
Donations worth tens of millions of dollars flooding into Ukraine demonstrate that cryptocurrency is “crossing the barrier into popular use,” Lubin added.
Crypto has proved to be a potent weapon in Ukraine’s fight against Russia, with the situation in Eastern Europe serving as a “point of no return” for crypto’s further integration into global markets, according to ConsenSys founder Joe Lubin.
Lubin, a Canadian-American entrepreneur and co-founder of Ethereum, discussed these and other topics in a wide-ranging interview with Dan Roberts, editor-in-chief of Decrypt, the publication that sponsored Camp Ethereal 2022. At least $60 million in cryptocurrencies has been pumped into the besieged country so far.
“This is a new era for our business,” Lubin said at Camp Ethereal. “It signifies the apex of general acceptance. We’ve now moved on to national security concerns. It will be dramatic, a tipping moment for our industry, since it is obvious that our technology is very strong and unstoppable.”
Lubin projected that cryptography would be “employed by a wide variety of country states regardless of what other nation states say or do,” which implies that each nation state must develop policies, become educated, and begin using these techniques.
Lubin also said that world leaders are arriving late to the party. He accused the US government of “dithering for a time” and described President Joe Biden’s much-hyped executive order, which was issued on Wednesday, as “sort of comical, like, ‘Hey, all you agencies get a sense!'”
Lubin compared crypto to an arms race, stating that “our nation, as well as many others, will have to make use of this very strong instrument and weapon.” Nobody enjoys firearms, but you must be as proficient with them as your neighbours.”