Lubin Will Help China For Ethereum Tech
Ethereum co-founder, Joseph Lubin, is hoping China’s Central Bank Digital Currency (CBDC) will allow interoperability with permissionless blockchains – and this includes Ethereum.
On November 9, Lubin had an interview with Forbes. He assumed that it would be what Chinese leadership thinks is right for them. Moreover, he wishes that it is open to interoperating them.
In addition to that, Lubin wanted China to participate more in the Ethereum ecosystem, mentioning the instance of the Belt and Road blockchain-based commerce platform. Compared to others, these use a weaker technology than public blockchains like Ethereum.
Aside from that, he added that he would love to help China in being an expert in Ethereum Technology. Additionally, the central concept is that Ethereum is the strongest among the blockchain technologies. Also, it is a very positive virus to implant in the minds of people.
According to Lubin, he expects China to continue undermining the U.S. dollar’s status as the world reserve currency. However, China’s CBDC will only receive a minor effect in this regard. And Russia and China are already making efforts to have business with the absence of U.S. dollars.
In conclusion, there are too many reasons for the shrinking of American influence, and this might continue to shrink. “That may not be a bad thing. But in some ways, it’ll be a bad thing. China’s particular cryptocurrency I don’t think is a major factor,” Lubin noted.
Lubin to China
Furthermore, Lubin mentioned China’s willingness to obstruct access to digital currencies competing with its own, including Ether (ETH). Moreover, the capacity of the government to block access to Ethereum in China depends on the development in deep packet inspection. Also, they will look into how motivated the nation is to this end.
Above all, Lubin agrees that the Chinese government can do something if it wants to. But still, new technologies like satellite-blockchain streaming and mesh networking might provide a way to circumvent censorship.
