Joseph Lubin, the visionary behind Ethereum software powerhouse Consensys, has unveiled a pioneering venture dubbed Network State—an initiative where individuals can assert their "personal sovereignty." This groundbreaking announcement aims to revolutionize the decentralized Web3 and AI global economy landscape.
Lubin proclaimed, "We're on the verge of a paradigm shift that will be heard around the world." Consensys is determinedly advancing toward fostering a Network State amidst emerging decentralized platforms. Lubin observed that, for too long, blockchain enterprises have operated under a cloud of regulatory ambiguity, hindered by the SEC's restrictive actions.
In an interview with Cointelegraph at the Ethereum Devcon held in Bangkok, Thailand, Lubin noted, "We've been living in a gas-lit world for a long time, generously gas-lit by the SEC." He elaborated that the technology sector struggles within an environment marked by regulatory overreach, which seems strategically poised to stifle the industry's progression.
The latest project, sovs.xyz, has debuted on Linea, an advanced layer-2 zero-knowledge Ethereum Virtual Machine (zkEVM) rollup developed by Consensys. This platform empowers users to affirm various forms of personal sovereignty, promoting the development of robust, fair, and enduring communities.
"This marks the start of a collaborative journey with the community to create a network we're all eager to join," Lubin elucidated. He remarked that the exploration of self-sovereignty, both personal and communal, is in its nascent stages. With more aspects of our lives being conducted onchain, including finance, identity, communication, art, and entertainment, reliance on open and decentralized networks is set to grow.
This initiative seemingly builds on Ethereum co-founder Vitalik Buterin's pop-up city concept and the network states theory, advocating for online assemblages to transform into autonomous physical communities. On November 13, Consensys further propelled this vision by decentralizing Linea through the introduction of a new Swiss nonprofit association aimed at enhancing platform growth and governance.