CEO of Consensys: Ethereum is expected to become the backbone of global finance, surpassing Bitcoin

PANews reported on June 4 that according to CryptoSlate, Ethereum co-founder and CEO of Consensys Joe Lubin believes that Ethereum may eventually be more valuable than Bitcoin, as he pointed out that Ethereum has a utility and role in building a trust-based financial infrastructure. He also revealed that Consensys is in talks with a major sovereign wealth fund and major banks to develop institutional-grade infrastructure for the Ethereum ecosystem, including L1 and customized L2 solutions.

Although Ethereum has underperformed Bitcoin and others recently, Lubin sees it as a long-term infrastructure network. As sovereign wealth funds become more interested in building financial infrastructure on Ethereum, governments could redefine the digital currency competition if they begin to integrate Ethereum. Lubin concluded that Ethereum's value lies not only in its price, but also in its status as the world's most trusted programmable asset.

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