If there’s one thing that has been proven beyond a reasonable doubt at this point, it’s the fact that crypto is a valuable weapon for Ukraine in their battle against Russia, especially with the crisis in Eastern Europe becoming “a point of no return” for crypto’s steady integration into the globally, according to the founder of ConsenSys, Joe Lubin.
The Canadian-American entrepreneur and co-founder of Ethereum shared his thoughts on all of this and more at Camp Ethereal, 2022.
As of right now, at least $60 million in cryptocurrency has been received by the nation. Lubin said at Camp Ethereal that “It’s another moment for our industry.”
He continued, saying, “It represents crossing the chasm into mainstream adoption. Now we’re onto national security issues. It’s going to be so profound, a point of no return for our industry, because it’s clear that our technology is very powerful and unstoppable.”
Lubin made a prediction that crypto will “be used by many different nation states, regardless of what other nation-states say or do, and this means that every nation state has to create policy, get savvy, and start wielding these tools.”
Lubin also shared his opinion on the fact that global leaders are in fact, late to the party. When speaking on the matter he went onto accuse the U.S. government of “dragging its feet for a while,” as well as calling the executive order by President Joe Biden, which was officially signed on Wednesday, “kind of funny, like, ‘Hey, all you agencies get a clue!’ That’s basically what he said.”
Lubin also compared crypto to an arms race, stating, “This country and many others are going to have to make use of this powerful tool and weapon. Nobody likes weapons, but you have to be as capable with powerful weapons as your neighbors are.”