Vitalik Buterin, co-founder and CEO of Ethereum, spoke candidly in a podcast interview with The Stakeborg Talks. He discussed a variety of topics, including his early fascination for mathematics and problem-solving as well as the potential of decentralized autonomous organisations, or DAOs. He also talked about his views on Bitcoin’s community, and the space of the nonfungible token (or NFT).
When asked about his career preference, Buterin, a modest entrepreneur who is passionate about his profession, answered that he was a tech philosopher.
Buterin, paraphrasing Thucydides’ famous scholar-warrior quote, offered perspectives on the shifting dichotomy of the tech industry’s dogma that there is constant advancement and the abstract space created for philosopher thought-leaders.
He was asked if he saw Ethereum flipping Bitcoin in terms of price and as a store-of-value asset. Before expanding on his view, he replied simply “It could.”
“I believe the biggest difference between Ethereum, Bitcoin and other platforms is that Bitcoin has a currency-based platform. In Ethereum, the ecosystem’s value determines the currency’s value.
The highly anticipated London hard fork upgrade to Ethereum in mid-August will enhance the network’s transaction payments system. This is mostly through transaction fees and miner revenues. Buterin continues the conversation by citing:
“Especially post-EIP1559, when the fees have been burnedt, this then becomes more economic sense.”
Buterin was one of the 100 most influential people in 2021 by Time Magazine in September. This recognition is for his role in the expansion of Ethereum’s market capitalization to more than $400 billion. Leaders in the DeFi/NFT space were also recognized.
Buterin spoke about the rise of autonomous decentralized organizations and specifically the development models like quadratic funding and voting. He also highlighted the Gitcoin DAO, and the Optimism retroactively public goods experiments, as examples of projects that are changing the landscape.
Buterin answered the question:
“I believe DAOs will be more important over the long-term… There isn’t one thing missing in the DAO space. I think there are many. What date will it be that a DAO makes a strategy pivot? Or when will two DAOs merge? It’s the ability make big decisions, not just continue in an incremental fashion on the same path. I believe we’ll soon see that.
Related: Vitalik believes that token-based decentralized Governance is holding back DeFi
Finally, Buterin offered some insight into the new demographic that is attracted to the NFT space.
“NFTs are interesting culturally because they bring people into Ethereum with a totally different mindset than DeFi or regular crypto people.”