Blockchain infrastructure firm Consensys is working on a new project to create a platform enabling individuals to declare personal sovereignty within Web3 and the AI-driven global economy.
According to the company’s founder, Joe Lubin, in an X post on November 14, the project, which he called “Network State,” is a catalyst for building decentralized ecosystems aligned with self-sovereignty principles, declaring it
“the beginning of a partnership with the community to build a network we all want to be a part of.”
He envisions blockchain technology playing a growing role in areas like finance, identity, communication, and entertainment, enabling individuals to conduct more aspects of their lives “on-chain.”
Lubin described Network State as a step toward a significant paradigm shift and emphasized its potential to foster a decentralized ecosystem rooted in self-sovereignty.
“We are in the early stages of discovering what self-sovereignty means for ourselves and our communities,”
he wrote in the X post.
The project operates on Linea, a Layer 2 Ethereum scaling solution developed by Consensys, and it will allow users to attest to sovereignty forms that are meaningful to them. Lubin noted that the project’s aim is to help build more equitable communities.
The Ethereum co-founder also criticized the U.S. Securities and Exchange Commission (SEC) for fostering what he called a “gas-lit world,” which he argued has impeded Web3 innovation. He claimed the SEC’s regulatory approach has sought to either hinder or co-opt industry progress.
Notably, Consensys recently issued an open letter to the “next U.S. president,” urging future leadership to prioritize regulatory clarity for blockchain and crypto innovations. The letter warns that fragmented oversight in the U.S. leaves gaps that bad actors exploit, undermining both consumer protections and the industry’s growth potential. The company urged the next administration to prioritize clear crypto guidelines, strengthen consumer protections, and support blockchain innovation.
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