Ethereum founder Vitalik Buterin was featured on the cover of Time magazine as the “Prince of Crypto”.
Buterin, who gave an 80-minute interview after ETHenver, a conference dedicated to Ethereum, made important statements.
Inspired by Bitcoin, Ethereum has helped many people become rich and has also been used in various criminal activities. . “Crypto has a lot of dystopian potential if misapplied,” Buterin said.
Buterin is concerned about the dangers to over-enthusiastic investors, rising transaction fees, and wealth displays that are changing the public’s perception of crypto. Referring to the Bored Ape Yacht Club, which has become a status symbol for millionaires in the digital age, Buterin said:
“The danger is that you have these three million dollar monkeys and it turns into a different kind of gamble”
“Ethereum Should Be a Launchpad for Sociopolitical Experiments”
Buterin hopes Ethereum will become a launchpad for all kinds of sociopolitical experiments. Fairer voting systems, urban planning, universal basic income, public works projects. Above all, he wants the platform to act as a counterweight to authoritarian governments and subvert Silicon Valley’s dominance over our digital lives. Buterin acknowledges that his vision for Ethereum’s transformative power is at risk of being overtaken by greed. Buterin, for all his prestige, may not be able to prevent Ethereum from straying off course. Because the platform is decentralized and Buterin is not an official leader of Ethereum. Buterin also rejects the idea that everyone should have unilateral power over their future.
“Crypto Is Not The Purpose Of Playing With Million-Dollar Monkey Pictures”
Buterin donated hundreds of thousands of dollars to help Ukraine after the invasion of Russia. He also drew attention to the importance of krypton.
“The situation in the last three weeks has reminded many people in the crypto space that crypto is not just playing games with million dollar monkey pictures
One of the decisions I made in 2022 was to try to take more risks and be less neutral. I’d rather Ethereum offend some people than turn into something that doesn’t make any sense”
Thinks Using Bitcoin Only As Currency Was A Mistake
Buterin on the blockchain technology Bitcoin is built on The more he learned, the more he began to believe it was wasteful to just use it as a currency. Buterin thought that blockchain could serve as an effective method for securing all kinds of assets – web applications, organizations, financial derivatives, non-destructive loan programs, even wills. Each of these, he thought, would be executable with “smart contracts” code that could be programmed to execute transactions without the need for intermediaries.
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