Jospeph Lubin, ConsenSys CEO, made some dramatic predictions during his keynote speech to conclude the ConsenSys Ethereal Summit 2019, held in Brooklyn, New York over the weekend.
Lubin predicted, “a future where assets had all been tokenized, the web was completely decentralized and networks organized around topical interests had become roughly as important to human life as nation states,” Coindesk reported. He also said he believed Trump would be re-elected in 2020, which was not good news for all of the audience.
He explained his reasoning behind this prediction, saying that the next four years in America would mark a “downturn in American civilization,” with an increase in divisions and more hate crimes. He said, “The turnaround would only arrive, he predicted, when Facebook, “finally admitting its role in global radicalism,” broke itself into “Facebook Media” (the news feed) and “Open Book,” a decentralized social web that any startup could tap into.”
In the medium-term future, he stated, “Liberal democracy was on its death bed.” And while ethereum’s potential to share data may be doubted by some, he foresaw a new era with more sustainable, more valuable journalism: “Platforms like Civil triggered the recovery of the journalism industry, especially local journalism.” He added, “Divorcing news delivery from the influence of advertising dollars was the breakthrough that drove the turnaround of western democracies.”
Lubin also described the advent of a decentralised era in which “ethics with respect to the truth, ethics with regard to the nature of facts” would lead the way, as opposed to the present era, in which “presenting balanced viewpoints and fostering critical thinking was anathema.”
Looking ahead to the year 2047, he also remarked that with a decentralised open platform where former web giants would come to embrace a distributed ethos — “We are all as a society able to engage in direct democratic decision-making.”