Joseph Lubin is the co-founder of the Ethereum network and the head of ConsenSys, a blockchain application development company. In the crypto community, he is known no less than Vitalik Buterin. We tell who Lubin is and what his blockchain companies do.
Who is Joseph Lubin?
Ethereum co-founder and ConsenSys head Joseph Lubin was born in Toronto in 1964, graduated from Princeton University with a degree in Electrical Engineering and Computer Science, and then began working in the fields of robotics, computer vision, neural networks and software development.
Then Lubin moved into the world of finance. Back in 1990, long before ConsenSys was founded, one of the most visible blockchain startups, he went to work at Goldman Sachs and rose to the position of vice president of technology for the capital management division. He also worked on a music project in Jamaica before joining the Ethereum project.
Recently Lubin earned a place in the list of the richest cryptocurrency owners compiled by Forbes. Today its capital is estimated from 1 to 5 billion dollars.
Joseph Lubin and Ethereum
Joseph Lubin says that after reading Satosi Nakamoto's article describing Bitcoin, he realized that the blockchain could become "the way to organize the whole world." In December 2013, Joseph met Vitalik Buterin - this was in Toronto, their hometown, and happened a month after Vitalik wrote the Ethereum network concept. A few weeks later, Buterin presented this project at the North American Bitcoin Conference in Miami.
Once, speaking about Ethereum, Lubin declared:
"We are developing the ideas of the blockchain, invented for the Bitcoin network, making it faster and safer."
In May, 2014, he said: "Bitcoins are designed to transfer and store value, and our system can do all this, too, but its main function is a distributed platform for launching applications, that is, a worldwide computer."
According to rumors, Joseph Lubin was one of the main buyers during the pre-sale of the broadcast, and although he insists that he sold part of the cryptocurrency to finance the development of ConsenSys, the community believes that its supply of ether can cost up to 10 billion dollars.
Today Lubin speaks about the second stage of development of the Ethereum network. In July, the largest Asian technical conference RISE was held, at which 15 thousand people gathered. Speaking in a panel discussion, Lubin said:
"Ethereum is developing with the intention of becoming a first-level trust system, and at the second level hundreds of thousands of transactions will be performed on top of the network, and we will see growth this year."
Thereum, he said, will become the base level for decentralized applications (dApps) working with its own sidechains, that is, applications will work autonomously, and security will be at the same level as when working through Ethereum, only without network overload.
Joseph Lubin and ConsenSys
ConsenSys is located in New York and its specialists create decentralized applications and various tools for developers and end users of blockchain systems, mainly Ethereum-oriented. The company describes itself as a “hub” that coordinates and accelerates the development of startups through the development, sharing of resources, acquisitions, investments and the creation of joint ventures.
As of July 2018, ConsenSys had more than 900 employees and consisted of 48 startups. The company develops many applications running on a global distributed computing platform. The ConsenSys team writes:
“Thanks to smart contracts and perfect encryption, our solutions provide transparency, audibility and immutability - these are the unique properties of blockchain technologies.”
ConsenSys platforms and applications are new approaches in traditional areas, including logistics (Viant), energy (Grid +), journalism (Civil) and jurisprudence (OpenLaw), and solutions for the new digital economy (Airswap, Balanc3), and innovative decentralized applications, including Ujo, Gitcoin, Bounties. Network and Gnosis, which bring real benefits to people and pave the way for a global decentralized economy.
In addition, ConsenSys Services provides advice and partnerships in a wide range of areas: technology, corporate and government, education, community organization and media. The company is also engaged in educational projects - in its academy they are trying to bring the blockchain victory closer by giving people knowledge of the Ethereum system.
Lubin recently said: “The ConsenSys Academy has already educated about 1500 developers, as well as many lawyers and representatives of other specialties who have gone to apply their knowledge in business and in organizations like the World Bank. We also have short tutorials. ”
ConsenSys develops komgo SA blockchain platforms for trading raw materials, including oil and agricultural products. Joseph Lubin says:
“We are entering a new era: now access to blockchain technologies will be all easier, and this becomes the basis for new types of cooperation.”
komgo SA brings together ABN AMRO, BNP Paribas, Citi, Crédit Agricole Group, Gunvor, ING, Koch Supply & Trading, Macquarie, Mercuria, MUFG Bank, Natixis, Rabobank, Shell, SGS and Société Générale.
Lyubin comments: “We are very pleased to see that leading banks specializing in commodity trading are working together on the komgo SA system. When it is launched, it will radically simplify interaction, increase trust in the industry, simplify the audit procedure and increase the availability of funding for all players. ”