Ethereum co-founder Joseph Rubin appears again in a hot story. This time I am deeply supportive of what he calls one of the most persuasive papers of all time.
This paper compares ETH to not only digital currency, but also to much larger ones. It is a kind of “digital oil” or “energy” that strengthens the relocalized global economy. The idea is nothing new. It’s similar to some of the early Ethereum metaphors, but Lubin says it’s more relevant than ever, especially with the great growth of AI, data infrastructure and distributed protocols.
Lubin highlighted two major things that affect the valuable Ethereum. It is the role of a “computer of the world” to enhance decentralized apps and services, and the second unknown, potentially game-changing idea called the “Trust Commodity” model.
In this way, ETH is considered the best digital trust on the planet, primarily due to the deep decentralization of Ethereum. Lubin says both of these frameworks show that in the long run, ETH is much more valuable than it is now.
Not optimistic
But the most prominent part of Rubin’s comment was, even his optimistic tone – when he clarified the paper – not yet optimistic. Ethereum could have a major impact, he says, as AI, Crypto and distributed systems come together to create a hybrid human-machine economy.
He believes that Ethereum can support the flow of value that exceeds today’s global GDP.
As Ethereum’s popularity is growing rapidly, it’s no surprise that the Crypto world has noticed Lubin’s comments. If his idea is even close to being right, the ETH price could be set to a much greater long-term profit than most people think.