Crypto Adoption Driven To A Point of No Return – Ethereum Co Founder, Joseph Lubin

Crypto Adoption Driven To A Point of No Return – Joseph Lubin.

Joseph Lubin, the co-founder of Ethereum, said that the Russian-Ukrainian conflict may have driven the adoption of cryptocurrency to a point where it is irreversible.

During the Camp Ethereal 2022, Lubin made the statement while speaking with the Decrypt editor, Daniel Roberts. According To Lubin, the active role that cryptocurrency has played in the conflict is momentous for the industry, especially with respect to how the Ukrainians used it as a channel to raise funds that have contributed to the resistance to the Russian invasion.

Describing the use of cryptocurrency in the conflict, Lubin said that it represents a transition to national awareness that could lead to widespread adoption of digital assets. He said that this is a point where people, at the national level have realized how powerful the technology is.

“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,”

Data available at Elliptic shows that the government of Ukraine, in conjunction with a nonprofit organization has raised $63.8 million in funding from crypto donations.

Earlier in the year, at the height of the tension between Russia and NATO, Vitalik Buterin, the co-founder of Ethereum asked for support for Russians that were resisting the policies of President Putin. Buterin had written in a tweet that a war would not be in the interest of Russia.

Lubin said that the use of cryptocurrency as a weapon in war and fundraising to meet strategic national objectives is similar to an arms race. Countries who are now aware of what powerful tools digital currencies could be wouldn’t want to be on the sidelines.

Every nation-state has to create policy, get savvy, and start wielding these tools.”