According to PANews, Joseph Lubin, founder of Consensys and co-founder of Ethereum, discussed the current challenges facing the financial system in a column for the Financial Times. Lubin pointed out that the system is under structural pressure due to a crisis of trust, high inflation, and accumulating debt. He compared blockchain networks like Ethereum to the role of the HTTP internet protocol in the 1990s, suggesting they can provide a decentralized and programmable infrastructure for the global financial system.
Lubin emphasized that the goal is not to replace traditional banks and fiat currencies but to create an open financial architecture that coexists and interoperates with the existing system. This approach has already been adopted by major institutions such as BlackRock and JPMorgan.
