Joseph Lubin and Consensys - History and Story

The story of Consensys, and S Tier Crypto God, Joseph Lubin

Most people you speak to have never heard of Consensys.

And they certainly haven’t heard of Lubin

So why make a video about them?

And how is it tied to our last videos subject matter, Vitalik Buterin?

Well, It all starts with yet another ethereum cofounder, and founder of Consensys, Joseph Lubin

Lubin was born in Canada in 1964

His pops was a dentist, and his mom a property agent.

When Lubin was young, he spent most of his time playing squash and doing mathimatics.

Which made him a shoe in at Princeton University, where he fit right in, and graduated in 1987

Good lord, that was the year of my birth.

Most of his friends went on to become successful titans of industry.

But at the age of 45, Lubin hadn't reached the levels of his college pals, and no one guessed what would happen when Bitcoin came along

He began his career working in robotics, machine learning, neural nets and software engineering.

Lubin then transitioned into finance, building trading systems, running a hedge fund and working for Goldman Sachs' private wealth management division.

Joseph always regarded himself as a programmer above anything else, even while in the financial industry

Then cryptos sweet sweet embrance came along.

After reading the Satoshi Bitcoin white paper, Lubin felt blockchain technology could serve as "an organizing principle for Earth, the world, the planet,"

This sounds like a huge eyeroll. Like something a super villain says before firing off the giant moon laser directly at comcasts heart, killing it forever.

Actually that would be pretty cool

But the more I read about Lubin, the more I believe he really is doing something good for the future or decentrailization.

Lubin heard of Buterin's November 2013 Ethereum white paper, and after he spoke with them on New Year's Day 2014, he committed to becoming a co founder of ETH

It was weird for Lubin to join the group of 20 year olds, he was old, and long past his nights of coding until sunrise, only to pound some redbulls and keep coding

In the group of 8 founders, there were ongoing debates on making the etherum project a for profit business, or a non profit purpose driven endeavor.

Charles Hoskinson and Gavin Wood were reportly booted from the group after many heated disputes and now run ETH rivals Cardano and Polkadot.

Have you heard of them?

Maybe good topics for the next video…

Anyway

Lubin had a very meta presence in the early days of ETH.

His maturity and experience let him slide past dramas and emotions of younger cofounders, where he took a mentor role over Butertin.

People who watched the project closely know that Lubin was just as vital to Ethereum as Vitalik

Lubin over watched the Ethereum project until its launch in the summer of 2015 as a non profit venture.

Industry insiders ( AKA Twitter ) believe Lubin may be the single-largest holder of Ethereum, but Lubin insists he's been selling to fund projects all along.

We will never really know, but his rumored net worth is over 10 billion, the second richest man in crypto

Even though Ethereum became non profit, Lubin would still get exactly what he wanted, a pro profit crypto business called Consensys

Joseph was rumored as a top buyer of the ETH premine as he was funding Consensys with his amassed collection of Bitcoins.

ConsenSys, provides security audits, token launches and other services to traditional companies, per their website

But thats not all they do.....

Consensys has launched many many well known projects in the crypto industry

These include little tiny names like MetaMask, Gnosis, Infura, Codefi, Diligence, Truffle and Quorum just to name a few......

But thats just the surface of what Consensys is involved in building.

They're currently working with JPMorgan and other major US banks, and even the People's Bank of China on a new cryptocurrency projects.

I don't think any sane person loves to hear big banks entering the space, but these partnerships are what will bring crypto to the masses.

Its easy for people in crypto to forget, the industry is still very new, and very unadopted. You’re average citizen knows knowthing about crypto. So keep that in mind when judging these partnerships, I know I will.

Consensys has it hands everywhre in crypto, but also keeps these projects running on their own, in a true decentratilated fashion.

Once a project is spun out from Consensys, it typically runs on its own, for better or worse.

If the info in this video was new to you, you can see just how influencal Joseph Lubin is to crypto as a whole.

He was a cornerstone to Ethereum’s creation and foundation, and now builds the infrastructure to make it successful.

With consensys at a 7 billion dollar valuation, Web3 is this guys sandbox.

Lubin is the maturity this industry needs. With Consensys at his side, I think we’re in good hands.