Ethereum News: Ethereum Will Replace Centralized Systems Like Paypal, eBay, and VISA- Joseph Lubin Ethereum Prediction


All crypto world wants to hear positive predictions and words from Seoul Deconomy attendants. The founder of ConsenSys, Joseph Lubin, talked positively about crypto world in the conference. He spoke at the Deconomy, a fintech and blockchain conference which held in Seoul, South Korea between April 4 and April 5. Lubin noted that ethereum which recently completed a successful Constantinople hardfork is poised to become the universal payment layer and will replace centralized systems like Paypal, eBay, and VISA. Ethereum, which has a strong focus on decentralization, will upend these systems with decentralized alternatives he said at the event.

He faulted centralized systems often controlled by the government and big corporate organizations as for their censorship and unfairness to the actual users and service providers. He said they use intermediaries who gain so much value from transactions at the expense of actual users and services providers.

Ethereum Constantinople Hardfork

As Smartereum reported, Ethereum made notable progress on its roadmap with the successful Constantinople hardfork after well-document delays. The Ethereum hardfork which brought the network closer to a Proof of Stake (PoS) from the current Proof of Work (PoW) Blockchain and closer to the much-anticipated version 2 of Ethereum.

Ethereum Blockchain Network will Become the Universal Payment Settlement Layer

Lubin told participant at the conference that the Ethereum Blockchain network will become the universal payment settlement layer and will tear than the “walled gardens” and “centralized trust” established by payment systems like PayPal and VISA as well as centralized blockchains.

For his part, Joseph Lubin founded ConsenSys best described as an Ethereum studio in order to create real-world decentralized applications on the Ethereum layer. In an earlier interview with Smartereum, Lubin explained that there weren’t many usable applications building on the ethereum when he formed ConsenSys. He added that second layer Ethereum development is crucial to the dominance of decentralized systems.

Ethereum Price Today

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At the time of writing ethereum’s native token, ETH is currently trading at $168. It remains the most valuable altcoin with a total market cap of $17.7 billion.  Thanks to the latest cryptocurrency bull run, ETH was able to break through the psychological barrier at $142.

ETH Price Prediction 2019

If Ethereum can become the universally accepted network for decentralized applications, the value of ETH will definitely soar just like in 2017 when the network enjoyed a monopoly for launching ICOs and smart contracts. That said, this looks unlikely to happen in 2019 as other Blockchain networks like EOS and TRON currently dominate the list of DApps with most active users.

Lubin is confident that the work done by Ethereum developers like the Parity team towards scaling solutions will bring Ethereum closer to becoming the platform of choice and trusted global payment layer.

Private Blockchains are not the Solution

For this decentralized era to take shape, Lubin suggested that there would be a universally accepted decentralized network and not just individual companies working within specific rules, jurisdictions and for their own individual gains. He added that these systems restricted consumers to few choices and service providers gain little to compare to the network owners.

Currently, private Blockchain networks like IBM Blockchain, Hyperledger Fabric, and R3 developed by Corda Blockchain consortium are popular among enterprises trying to adopt Blockchain technology. Lubin, however, said that none of them are really decentralized and described them as entrepreneurial solutions still plagued by centralized issues.

Ethereum News: Will Ethereum Break Resistance and Hit $200 Today?

According to blockonomi; in the past three sessions, there was a strong rise in Ethereum price above the $174.00 and $178.00 resistance levels. ETH even broke the $185.00 resistance and traded to a new multi-month high near the $188.00 level. It also helped bitcoin price in trading above the $5,200 and $5,250 resistance levels.

It cleared the $178.00 and $180.00 resistance level. There was even a close above the $178.80 pivot and the 25 simple moving average (30-min). Intermediately, there was a bullish continuation pattern formed before the price climbed above the $185.00 resistance

On the upside, a clear break above the $188.00 level is likely to push Ethereum above the $190.00 resistance level. More importantly, if ETH buyers gain momentum, they could lead the price towards the $200.00 barrier in the coming sessions.

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Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.


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