Latest vitalik buterin interview; Ethereum Co-founder is deeply concerned about the world he helped create

Have you ever created something (an app, software, or a physical product), only to see it being used in ways you never intended it to be used? In an interview with Times Magazine, Ethereum Co-founder, Vitalik Buterin, expressed concerns about the world he helped create. Some of his concerns are rather personal, while others bordered on the newly-found thirst for quick profit amongst crypto enthusiasts rather than using the digital technology to improve different facets of life. Strange? No. we have seen rug pulls like never before, and the number of new projects coming up with their only use case being “meme coins” says so much about how distorted the space has become.

In just a few days after the interview was held in Denver, Putin launched his attack against Ukraine, and at the heart of it, we see the relevance of cryptocurrencies. It has been the saving grace for many Ukrainians fleeing the country, and we can only be grateful that a technology like this has gained ground. Looking at it from another perspective, Russia could also leverage this technology to evade taxes. This war is quite personal to Vitalik, who is of Russian-Ukrainian descent, and although he has many pressing issues like the question of when is ETH2 coming out, he has lent his voice to antagonize Putin’s daring move.

What is Ethereum?

Ethereum was one of the earliest cryptocurrencies developed that never had to dethrone Bitcoin as one of its major goals. Created in 2015, it brought a new approach to digital finance, which is different from the ‘to facilitate cross-border transactions’ offered by bitcoin.

It has gone on to become the pioneer and hub for decentralized finance as it hosts the majority of DApps, NFT marketplaces, and smart contracts. The most popular metaverse platforms are on the Ethereum network. Nothing prevents Web 3 from leveraging on Ethereum’s wide use case and reach, especially with the Ethereum 2.0 (now referred to as Ethereum consensus layer) being developed to tackle most of Ethereum’s major scalability problems.

Vitalik Buterin is undoubtedly a very influential figure in the crypto space, and very few people match him in impact and prominence. Although his small stature can give him away as a young man still finding his way through life, the 28-year old has shown that age is not a determining factor in changing the world.

What fears make Vitalik worried?

Although the crypto world has increased in both volume and market capitalization, it has brought some negatives to the limelight. After rushing out from the Ethereum conference held in Denver, Times magazine got an interview with the Ethereum co-founder in his hotel room. He showed his pleasure on the growth of the crypto market with a grin on his face, but his countenance changed as he talked about the negatives that have since built up. People are now inconceivable rich; the proof-of-work system has caused so much environmental pollution, and the mind-boggling figures around tax evasion, rug pull, and fiat laundering.

Taking a dig at the popular NFT collection, Bored Ape Yacht club, he explained that most new projects are better likened to expensive gambles that enable people to buy yachts and Lambos, hence disrupting the traditional economy. While crypto has been touted to replace Fiat, it seems Vitalik sees more of a symbiotic relationship between both.

Buterin doesn’t want to just make software; he wants it to be an engine for social change. His goal is that Ethereum can provide a platform where people from all walks of life have access and opportunity–a counterweight against authoritarian governments as well as Silicon Valley’s stranglehold on our digital lives

But yes! Founder Vitalik Buterin has ambitious plans when it comes down to making this happen: Rose-Tinted glasses aside, we need more than dreaming if there ever was one time when technology should step up its game.

Any solution proposed?

Vitalik has always been passionate about the power of blockchain, but he recently realized that Ethereum’s current trajectory could lead to its downfall. To prevent this from happening at all costs–even if it means taking on more public-facing roles to shape future development for good——Vitalik will be more vocal and take sides on some political matters. It is better to be hated for one’s stands than to be lukewarm about everything going on in the world.

Vitalik Buterin, the young visionary who created Ethereum and its token Ether (ETH), may not be able to prevent it from moving off tangent. That is because he designed it to function without the overbearing influence of himself or any of the other stakeholders. However, there are those within this ever-expanding community willing enough to take control should they so choose – which has led to the major dilemma over whose voice will ultimately prevail.

Vitalik has resulted in a soft approach to power to avoid feeling hopeless about the situation. Things such as blog writing, conducting research, and honoring as many interviews as can have been the focal point of his approach. Will this approach work? Probably. But will the result of the strategy have an effect on the direction of Ethereum? Most assuredly. It can either be a make-or-break situation for Ethereum as the next phase for digital evolution or another speculative asset. While Ethereum is still highly revered for its relevance in the crypto space, with many exchanges like Redot.com offering an opportunity to trade it, fears abound with some of the other tokens that promise nothing but ‘to the moon.’