Decentralization Is Far Beyond Money

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Decentralization Is Far Beyond Money


Vitalik Buterin spoke to Argentina and the Ethereum community there, saying that decentralization goes far beyond money as we are reading more today in our Ethereum latest news.

Vitalik Buterin went to Buenos Aires to see the rates of inflation and the ETH community embraced the creator to their country. Vitalik said that it is much more than he expected about the Ethereum community in Argentina. Even more, than he has seen in the world so far and shouted out several projects with Argentinian roots. He also noted that the country has an amazing amount of talent and a real need for blockchain technology because the web3 is solving problems in the country.

Buterin spoke to Argentina and said that the DAOs are the thing that needs to finally happen. He predicted growth for ENS and mentioned his new roadmap goals. In general, Vitalik is all about fixing and admitted that the Ethereum blockchain has a few problems but there are people that work on each one of them. For example, he promised Ethereum will turn to the Proof of Stake consensus mechanism and when that happens, Vitalik claimed that they will get rid of the centralization. He made a call to the wallet developers to take on the challenge and said that in 2022, we can make Ethereum decentralized.

Speaking about decentralization, Ethereum’s creator shared his views on the project and according to him, the concept doesn’t imply that there are no leaders but implies that those leaders cannot make decisions and will have to work to earn everyone’s respect. There are also structures in place in which the new leaders can emerge and feel that the project needs a positive vision to follow and that Ethereum got more decentralized over time. Vitalik said the phrase gives this article a title dubbed “I Think the Value of Decentralization Goes Far Beyond Money.”

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Besides Ethereum, the hosts also discussed other topics like fractional ownership, life extension technologies, and how the blockchain can contribute to the evolution of social media. According to the Ethereum creator, social media could avoid centralized moderation and push the bad actors aside. Buterin noted:

“If Ethereum fails to scale, then Ethereum definitely failed. If Ethereum succeeds at scaling, but it turns into something that’s centralized, then I think it also failed. If Ethereum succeeds at scaling and at being decentralized as a blockchain, but nothing interesting gets built on top of it and no one actually gets any value from it, then it also fails.”

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