Ethereum co-founder Joseph Lubin, who is also the CEO of blockchain company ConsenSys, has predicted that the Web3 boom will be orders of magnitude larger than the dot-com bubble of the late 1990s. Lubin made these bold remarks in a recent post on the social media platform X, where he explained that the Web3 revolution is already underway and will dramatically reshape the world.

Lubin expressed his confidence that Web3, the decentralized internet built on blockchain technology, will vastly exceed the scale of the dot-com boom. He described the future of Web3 as “rough and wild,” but ultimately transformative for society, as it ushers in a new era of progressive decentralization and censorship resistance.

According to Lubin, Ethereum (ETH), the leading blockchain platform for decentralized applications (dApps) and smart contracts, is at the heart of this revolution. He is especially bullish on Ethereum’s future because of its large market cap, mature ecosystem, strong developer base, and solid roadmap. These factors make Ethereum particularly appealing to major companies looking to enter the blockchain space.

Lubin emphasized that the shift to Web3 is a natural progression in technological evolution, much like the migration to the internet during the late 1990s and early 2000s. Just as businesses had to adopt websites and online services in the past, Lubin believes that most traditional companies will soon follow suit and embrace Web3 technologies. He predicts that Web3 will accelerate rapidly in the coming years, with blockchain-based decentralized platforms replacing conventional digital infrastructure.

He further discussed how businesses will increasingly rely on digital ledgers, powered by blockchain technology, for everything from finance to supply chain management. This shift, Lubin argues, is inevitable, as Web3 offers benefits like enhanced security, privacy, and control over data, which will be critical in the future economy.

Lubin also weighed in on the political implications of blockchain adoption, specifically regarding the stance of former U.S. President Donald Trump. He praised Trump’s efforts in the crypto space, noting that the Trump family’s activities in the decentralized finance (DeFi) sector were “smart” and strategically aligned with the Ethereum ecosystem.

Lubin believes that the Trump family’s ventures in DeFi and other crypto-related ecosystems are poised to make a significant impact. He highlighted that Ethereum, due to its robust infrastructure and wide array of use cases, remains the best platform for high-value blockchain activities. Lubin also expressed confidence that the Trump administration would carefully manage and promote Ethereum and other blockchain technologies for long-term success.

While Ethereum’s price was $3,419 at the time of writing, Lubin’s optimism about the future of Web3 reflects broader trends in the blockchain and cryptocurrency space. As more businesses and individuals turn to decentralized systems for everything from finance to governance, the potential for blockchain to disrupt traditional industries is becoming more evident.

Lubin’s vision for Web3 presents a future where individuals and organizations have greater control over their data and digital assets, ushering in an era of increased privacy, security, and decentralization. As Web3 technologies continue to evolve, they are expected to revolutionize not only the way we interact with the internet but also the global economy.