ConsenSys CEO Envisions Decentralized Utopia by 2047

A second Trump term, Facebook breaking apart, and a decentralized future. These were just a few of the talking points hit by ConsenSys CEO Joseph Lubin’s keynote address at the 2019 Ethereal Summit in Brooklyn on Saturday in Red Hook, Brooklyn.

Lubin’s vision of the future involved completely tokenized assets, a fully decentralized web, and news dedicated to truth and facts.

As Lubin sees it, the road to that utopia would start with a second term for U.S. President Donald Trump in 2020—four years marked by an increase in radical divisions and hate crimes that would become a new black mark for American civilization.

He then predicted that those four disastrous years would only be rectified once social media giant Facebook starts “finally admitting its role in global radicalism” and splits apart into two distinct entities: a news feed called Facebook Media and Open Book, a decentralized social platform into which any startup can tap.

Sustainable, valuable journalism

Lubin also conjured up images of a future where sustainable and valuable journalism thrived thanks to blockchain and crypto technology changing how data and payments are shared.

He used Civil, a ConsenSys-backed project that wants to bring distributed verification and micropayments to the media landscape, as an example.

“Platforms like Civil triggered the recovery of the journalism industry, especially local journalism,” said Lubin.

“Divorcing news delivery from the influence of advertising dollars was the breakthrough that drove the turnaround of western democracies,” he continued.

Direct democratic decision-making

The ConsenSys CEO stated that by 2047, we would be experiencing a decentralized era where the emphasis would be on “ethics with respect to the truth, ethics with regard to the nature of facts” instead of what’s happening right now where “presenting balanced viewpoints and fostering critical thinking was anathema.

Once former web and media giants fully embrace a decentralized ethos, he believes that “we are all as a society able to engage in direct democratic decision-making.

The dream has been made real and we are all in it,” Lubin said, speaking from his viewpoint in 2047. “These days we don’t hear people talking about changing the world, just like we don’t hear people talking about breathing or walking. It’s just what we do.