Web Summit's spin-off fintech event MoneyConf is taking place in Dublin this week. The conference, which is expected to attract over 5,000 attendees over the next two days, sees a number of key note speakers today, including Joseph Lubin.
Joseph Lubin is co-founder of the world's second biggest blockchain Ethereum and ConsenSys, a company that recently opened an innovation studio in Dublin to build blockchain products. Mr Lubin says the blockchain is becoming increasingly prevalent in the fintech sector and we can think of it as "a next-generation database technology".
"It's a technology that enables us to move from subjective manual trust in the development of various systems to automated guaranteed trust," he explains.
"If you have a new, trustworthy infrastructure on which to build systems, instead of building siloed walled-garden systems, we can trust them and build shared collaborative IT infrastructure - and crypto currencies are one application that can be built on the technology. Because of that trustworthy nature, you can build something that's essentially non-counterfeitable," he added.
On ConsenSys' growing Irish operation, Mr Lubin said the company is quickly boosting its staff levels - it has 20 employees here at the moment - and it has put together the Blockchain Ireland website with IDA Ireland. Blockchain Ireland aims to position Ireland as a hub for blockchain technology.
The Ethereum co-founder said he expects blockchain technology to significantly change the way businesses, no matter what the sector they are in, operate in the future. Instead of businesses and governments building siloed systems, Mr Lubin said "we can see sectors, industries, supply chains, any sort of value chain starting to build these collaborative systems."
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