Ethereum [ETH]’s Joseph Lubin: cryptocurrencies’ price rises because the technology is q…

Recently, at the Next Conference 2018, Joseph Lubin, the Co-Founder of Ethereum spoke about the current status of the cryptocurrency market. He also discussed the pros of leveraging applications like Facebook on the blockchain.

Joseph Lubin began by discussing the price drop in the cryptocurrency market. On being questioned about the reasons behind the price drop in the market, he stated that the real question should be the reason behind the increase in its price. He went on to say:

“I think the market goes up because the technology is really quite profound, and people understand that we’ll be able to build things with it as it matures. That will radically transform society for the positive.”

Giving the example of the late 90’s dot-com era, he stated that people wanted to be a part of the era because they believed it can be “societally transformative”. Lubin further added that the other reason for the boom was the thought of making money.

He…