In a recent podcast interview with The Stakeborg Talks, Ethereum co-founder Vitalik Buterin spoke frankly about a series of issues, including his early interest in mathematics and problem solving, the potential of decentralized autonomous organizations (DAOs), and his Views on the Bitcoin community and the field of non-fungible tokens (NFT).
Buterin is a humble entrepreneur who is passionate about his career. When answering questions about his preference for professional titles, he called himself a philosopher of technology, and maybe that’s why he coined the term.
Borrowing from the famous saying of the Athenian historian Thucydides (Thucydides), a scholar and warrior, Buterin analyzed the ever-changing dichotomy between the evolving creed of the technology industry and the abstract space opened up for thought leaders in philosophy.
When asked whether we would see Ethereum surpass Bitcoin not only in price value, but also in terms of stored-value asset, he simply replied “it is possible” and then expanded his view:
“I think the biggest difference between Ethereum and Bitcoin is that Bitcoin is a platform, and the value of its ecosystem comes from the value of BTC, while in Ethereum, the value of ETH comes from the value of its ecosystem.”
The highly anticipated London hard fork upgrade of Ethereum in mid-August is enhancing the network’s transaction payment system, mainly in terms of transaction fees and miners’ income. Invoking this, Buterin continued from the above conversation:
“Especially after the introduction of EIP 1559, when you destroy the cost, in a more direct economic sense, this becomes a fact.”
In September of this year, Buterin was listed on Time Magazine’s 2021 list of 100 most influential people for his indispensable role in the growth of the Ethereum network to a market value of more than 400 billion US dollars. Leaders in the DeFi and NFT fields have also received other recognition.
Speaking of the rise of decentralized autonomous organizations, especially the development of quadratic voting and financing models, Buterin outlined the Gitcoin DAO and Optimism retrospective public product experiments as examples of projects with a development landscape.
When asked whether DAO will become the next field in the cryptocurrency ecosystem to relay decentralized finance and non-homogeneous tokens, Buterin said:
“I think that over time, DAO will definitely become more important…In terms of what is still missing in the DAO field, I don’t think there will be any lack of big things, but more small things. What? When will DAO decide to build a strategic center for the first time, or when will two DAOs decide to merge? This is the ability to make major decisions, not just growing on the same path. I think this is very important for us. I’ll see it soon.”
Finally, while commenting on the rapid rise of the NFT field, Buterin shared some insights about the new users attracted by the asset:
“I think NFTs are interesting from a cultural point of view because they bring people into Ethereum, and their mentality is completely different from that of DeFi and ordinary crypto people.”
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