Author: Annebeth W, United Kingdom
Earlier this week at the CoinDesk’s Consensus 2018 Conference in New York City, two crypto giants went head to head on stage willing to bet ‘any amount of bitcoin’ that blockchain tech won’t have any significant meaning in five years’ time.
Canadian Joseph Lubin, who is one of Ethereum Co-Founders, challenged blockchain critic Jimmy Song with a bet that blockchain tech indeed would be adopted by large corporations and therefore be of great significance in five years’ time.
Song and Lubin both represent the two sides of an emerging divide within the blockchain tech market, where Song represents the so called ‘bitcoin maximalist’, strongly believing decentralisation, whilst the other camp actually sees huge potential in corporations run private blockchain.
Song believes that blockchain is not essential to corporations as the way blockchain is used and adopted could be more efficiently done through the use of other technologies. Whilst Lupin, an avid blockchain believer, predicts the tech to be well adopted into corporations and potential other hybrid systems.
The two men shook hands on stage on the bet during a session which was moderated by former head of blockchain at JP Morgan, Amber Baldet.
Following the session Lubin tweeted on Monday: “Well that was fun. I’ll be in touch @jimmysong”, followed up by Song’s tweet a day later: “Hey @ethereumJoseph, what grand vision of Blockchain are you willing to put your bitcoins behind?”
It will be a little while to find out who will win this bet, but the discussion around blockchain’s survival is one that is ongoing with many passionate followers – both supporting and critiquing the technology.
We look forward to following the development of this bet closely regardless!