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Co-founder of Ethereum, Vitalik Buterin, acknowledged that his blockchain is not equipped to address all global issues, but he expressed optimism that Ethereum can assist in developing systems that safeguard financial freedom.
The developer shared his thoughts on social media platform X, lamenting that in today’s world, there is an increase in government oversight, surveillance of individuals, and corporate control over online platforms, alongside escalating conflicts, growing influence of artificial intelligence, and social media turning into a “battlefield.”
The programmer admitted that Ethereum has yet to deliver the tangible improvements many blockchain advocates had hoped for. The network has played a minor role in tackling issues related to digital privacy and personal freedom. The creator of Ethereum compared his blockchain to other tools that, in his view, have made significantly greater strides. He cited examples such as the satellite internet system Starlink, developed by Elon Musk’s SpaceX, the encrypted messaging app Signal, and community-driven initiatives like Community Notes. Buterin acknowledged that these technologies facilitate freer communication and access to information.
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“Ethereum cannot fix the world. This implies a form of authority that resembles a centralized political entity more than a decentralized technological community. So what can we do? Ethereum should be viewed as part of an ecosystem that creates ‘refuge technologies’: free, open-source technologies that enable people to live, work, communicate, manage risks, accumulate wealth, and collaborate towards common goals, thereby enhancing their resilience to external pressures,” Buterin wrote on X.
For Ethereum to remain relevant, developers must focus on establishing an open digital space where individuals and organizations can interact without a single owner controlling the system. There needs to be an emphasis on optimizing payments, as well as advancing decentralized finance (DeFi) and social networks, which centralized technologies cannot provide, the programmer added.
Recently, Buterin urged developers of layer two scaling solutions (L2) not to create basic copies of his blockchain linked by bridges, but to innovate something new that would strengthen the connection to Ethereum.
