Ethereum co-founder and Consensys founder Joseph Lubin said he hoped that the central bank's digital currency (CBDC) would allow blockchain interoperability without public permission, including Ethereum.
Ethereum is a "very positive virus"
Lubin made his comments during a Forbes interview published on November 9th. He explained:
"I guess it is the Chinese leaders who will be the ones who think they are most helpful to the Chinese leaders. I hope he is also open and we can interact with that, but I don't know. "
Also, Lubin added that he would like to see more involvement of China in the Ethereum ecosystem. He cites the case of the blockchain-based trading platform Belt and Road, noting that it uses one of the "weakest technologies" compared to public blockchains like Ethereum. He says:
"I would like to help China become an expert in Ethereum technology. […] The basic idea is that Ethereum is the most powerful of blockchain technologies and is a very positive virus for implantation in the minds of people. "
Lubin also noted that he expected China to continue to undermine the status of the US dollar as a global reserve currency. But he also believed that China's CBCD would have only a minor impact in this regard. He noted that Russia and China make an effort to do business without using the US dollar, and concluded:
"There are many reasons why US influence is diminishing and likely to continue to diminish. It may not be bad, but somehow, it will be bad. I don't think China's cryptocurrency is an important factor. "
China m to censor crypto "if you like"
Lubin also referred to China's willingness to impede access to digital currencies that compete with yours, including Ether (ETH). He explained that the government's ability to prevent access to Ethereum in China depends on progress in in-depth bundling and the nation's motivation for doing so.
In the end, he acknowledges that the Chinese government "can do this if it wants." "But new technologies, such as blockchain satellite broadcasting and networking, could be a way of avoiding censorship.
Asked if he believed the implementation of CBDC in China could offset the benefits of Lubin, he said:
" China is a business that writes its own rules and has a huge customer base: 1.4 billion, or blockchain, or abuse the transparency of blockchain to monitor and control the transactions of every citizen.It is a difficult economic force to handle. I think there is instability, I think leaders are constantly terrified of the revolution, so they must keep people relatively happy at some low level. "