Governments around the world have started to catch up with regulation for new blockchain-related projects, but the underlying technology still attracts entrepreneurial activity. Forkast.News Senior Editor Sam Reynolds sits down with ConsenSys Founder Joseph Lubin on the sidelines of Hong Kong FinTech Week to find out more about how the Ethereum blockchain infrastructure is dealing with regulation.
Against the backdrop of Hong Kong Securities Futures Commission CEO Ashley Alder announcing new regulatory framework for virtual asset trading platforms, projects related to blockchain have seen an increasing amount of engagement in the industry from governments around the world in 2019. This includes Chinese President Xi Jinping recently promoting the development of blockchain technology in the country.
While blockchain and cryptocurrency companies adapt to the new regulations, Lubin says “the technology shouldn’t matter that much as long as you’re doing all the right things according to securities law, you should be able to sell your securities to appropriate buyers.”
Add to that Ethereum 2.0’s looming launch, ConsenSys has been working on various projects including a space program in which “any person can participate and contribute.” The project aims to create a collaborative platform to organize efforts such as space sustainability in a decentralized and democratic way, according to the ConsenSys Space site.
See related article: Forkast.Focus | HKFinTechWeek: SFC Aims to Regulate Digital Asset Trading Platforms
Sam Reynolds: Hey, guys, we are back at Hong Kong FinTech Week and we’re talking with Joseph Lubin from ConsenSys. So Ethereum is a big topic these days, of course, in blockchain. But we’ve heard that Ethereum’s toolkit isn’t yet where it should be, given the capital being spent on Ethereum. You say that’s dumb. Why?
Joseph Lubin: What do you mean by toolkit? The developer toolchain? You’ve heard that?