ConsenSys | Inside the Ethereum-Focused Blockchain Laboratory

ConsenSys is a blockchain software technology
company focused on developing decentralized software and applications on the Ethereum
blockchain. Created by Ethereum co-founder Joseph Lubin
in 2014, ConsenSys incubates over 50 startups which are leveraging the power of blockchain
to build a decentralized Internet. We traveled to Bushwick, one of the most vibrant
neighborhoods in Brooklyn, New York where ConsenSys is headquartered. So what is ConsenSys? So ConsenSys is a collection of people all
looking forward to the Web Three future and exploring different ways to make that a possibility. Can you describe the average entrepreneur
at ConsenSys. Yes. So we have a lot of different types of entrepreneurs
but one of the most common is probably an engineer who got the blockchain bug fell down
the rabbit hole and thought there could be a better future if we made this technology
more widespread more feasible. So a lot of times they might be just out of
college and very motivated to make some change happen. We also though have people who have been in
business for years in finance or in health organizations who see the potential of this
technology and just had to come back into the entrepreneurial workforce to see what
they could do. How many people work out of this office? Approximately 50 to 150 employees are within
the office every day. But we encourage remote work. We do a lot of zoom a lot of slack in order
to help people be able to embrace the rest of the world. And what makes us really unique is that we
are not just building decentralized technology we are creating a decentralized company. And that’s part of the experiment going on
here. So we really focus on high autonomy and flat
structures. You’ll rarely hear somebody refer to a boss
or a manager. We’re all about trying to put in the communication
and the rails to be fully autonomous workers. Can you tell me about the neighborhood in
Brooklyn and how ConsenSys is thriving inside this neighborhood of artists, creatives, and
industry. Yes. So this neighborhood initially was very industrial
and then a lot of artists moved into the neighborhood and now we’ve kind of come in with a new tech
wave of creativity and it’s awesome to come to work here every day because as you look
around there’s art everywhere there’s all types of industry and energy happening and
we’re just so excited to be part of that community. New York is a special place because it is
a melting pot and it’s not by mistake that I think blockchains
and cryptocurrency really took off here probably more than almost in any part of the rest of
the world. So this coffee shop is Swallow. There’s another one down the street called
SEY and they’re participating in one of our first apps called Localties which is a reward
program based on the blockchain. So the more you spend, the more tokens you
can get but the cool part is those tokens aren’t just redeemable at one coffee shop
– it’s redeemable in any near area in the community. So you already have Brooklyn tokenizing coffee. Yup. Tokenizing Beanie Babies next. You got to have coffee, always on tap. You got to keep cold brew cold brew green
tea. Yeah shout out to Joyride. Great company that helps bagel Mondays you
know How can a startup become a part of ConsenSys. Reach out to labs. So we are looking for all different types
of entrepreneurs and teams building on Web Three. We’re happy to have an initial chat. Talk about your idea see if there’s a potential
fit. But the answers just apply to lapse. We also have a number of people that are visiting
from all over the world, from South Africa to Germany from China, the Philippines, and
so this wall kind of reminds us of a little bit of what we might end up replacing eventually. But in the short term we want to bring every
party into the party. ConsenSys is using a Ethereum. With so many challenges with scale, etc. Why? Why Ethereum? Well, I mean any technology we choose, right,
are going to have hurdles as we start to scale. But Ethereum has a huge potential in terms
of the ability to execute smart contracts on the blockchain and without any command
and control. And so we’re hyper aware of all the challenges,
from scaling, onboarding, users even understanding what it is, but those just don’t turn us away
because we’re all excited by the potential of what blockchain is. I think Ethereum’s still still is a place
by which it embraces diversity of thought to the point by which it embraces debate That’s the whole point. Being able to hardfork and say hey copy paste
I can do it better. Great. Prove more people win more hearts win more
minds. Who are ConsenSys’ competitors? We see a lot of other people building similar
products but right now we actually see it as more of a collaboration than it is competition. It’s so early within the space right now that
we kind of feel like it’s ridiculous to be arguing over the appetizers when the main
course hasn’t even come out yet. There is no barrier and that’s one of the
most beautiful things about blockchain and Ethereum and ConsenSys is that we’re not hiding. We’re not hiding behind gatekeepers or people
that may restrict people from at least trying. And so I think we’ll see ConsenSys involved
with governments, multinational corporations, startups, early stage venture, and really helping to
bring about what it means to build a more equitable, sustainable and decentralized world.

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19 thoughts on “ConsenSys | Inside the Ethereum-Focused Blockchain Laboratory

  1. Are they entrepreneurs or employees?? They say that Consensys incubate start-ups but then they talk about 50-150 employees working on the offices… Very confusing…

  2. Wow. That was an inspiring video especially the part when the chinese guy said "its so early in this space right now that we feel like its ridiculous to be arguing over the appetizers when the main course hasnt even come out yet." Nothing could be more true. There is enough evidence that this not a fad. Crypto/blockchain is big! Let's not waste our time and energy hating on other coins and instead focus on supporting those that we think will make it through because we do know some these cryptocurrencies will be embedded in our history and that's for sure!

  3. Sunglass are so rude to wear when yo u talk with someone. And just as enjoying for the viewers. He looks like a classy player man. Or rapper >_>

  4. Joe Lubin does not manage Consensys well. Read here

  5. Seems I have to wait for another decade to recover all what mess Lubin has done. I don't trust him and his companies anymore.

  6. I do not trust any business associated with Joseph Lubin too. please read articles on him and Taylor Monahan.

  7. What about the Forbes article declaring Joe incompetent and the article in Verge, consensys is not to be trusted

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