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Joe Lubin asserts that DeFi is as secure as conventional finance, noting that bitcoin is facing challenges.
In an interview at Consensus Hong Kong 2026, Joseph Lubin stated that "blue chip" decentralized finance has achieved equivalence with traditional banking.
Joe Lubin (David Paul Morris/Consensus)
Key Points:
- Joe Lubin asserts that "blue chip" DeFi protocols are now as secure as traditional finance, claiming that global banks are "debasing" and becoming increasingly less secure.
- While optimistic about Ethereum, Lubin voiced apprehension regarding Bitcoin’s "existential problem" related to "Q Day" — the moment when quantum computing could pose a threat to current encryption methods.
Consensys founder and CEO Joe Lubin stated that decentralized finance (DeFi) is equivalent in safety to traditional finance during an interview at Consensus Hong Kong 2026.
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Lubin informed CNBC reporter Elaine Yu that "blue chip DeFi is very safe, [but] banks are debasing globally and becoming less secure. If you look at scenarios like the GFC [global financial crisis], for instance, people lost 25% of their purchasing power in Greece due to haircuts."
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"DeFi is broadly as safe as traditional finance," he remarked, adding that in "2026, people will witness a significant breakthrough in DeFi."
Lubin expressed a differing perspective on bitcoin, referencing "Q Day" as the day when "encryption may be challenged by quantum computers.
"Bitcoin could potentially have an existential issue; it’s sensible to be concerned about that," he remarked.
"I personally believe it’s still a considerable way off, but I also think that AI is transformative, and AI will greatly enhance numerous scientific and technological endeavors. Ethereum is poised to be in excellent condition very soon, and the rest of the world will experience a Y2K-like situation," he stated.
