Ethereum maker regrets mistakes: ‘we left what really matters in the background’

Ethereum co-founder Vitalik Buterin recalled why he fell in love with the decentralized self-sovereign technology. This outburst appeared on his personal blog, where he shares his reflections and desires.

To begin his reasoning, he highlighted his past when he still defended and enjoyed the Bitcoin community. For example, Buterin recalled with joy the first companies to accept digital currencies, both in Germany and the United States.

One of my favorite memories from ten years ago was making a pilgrimage to a part of Berlin called Bitcoin Kiez: an area in Kreuzberg where within a few hundred meters of each other there were a dozen shops that accepted Bitcoin as payment.“, Vitalik emphasized.

His text continues with a reflection that echoes old memories, in which the price of bitcoin was increasingly discussed over its promising technology. And the co-founder of Ethereum defended that his project is moving towards a vision of freedom in society and the economyimproving the world.

“The reason I bring up these memories is that they remind me of a deeper vision underlying crypto: we are not just here to create isolated tools and games, but rather build holistically towards a freer and more open society and economy, where the different parts – technological, social and economic – fit together.”

“Since 2017, we have left what is really important in the background,” Vitalik lamented

With the popularization of cryptocurrencies and bitcoin, many plans were changed by those developing solutions on the market. According to Vitalik, some “mistakes” have been made since 2017, although not intentionally.

One of these would be to abandon the vision of seeking more freedom for users, instead of focusing on centralized payment methods, which are unfortunately still linked to the traditional financial system.

“In many countries, people use cryptocurrencies to send and save money, but they often do so through centralized means: through internal transfers on centralized exchanges or by trading USDT on Tron.”

Continuing his analysis, Buterin also stated that Web3 risks repeating Web2, a situation he considers yet another mistake. “It is difficult to resist this pressure, but if we don’t, we risk losing the unique value of the crypto ecosystem and recreating a clone of the existing web2 ecosystem, with inefficiencies and extra steps.“, he warned.

It is worth remembering that Bitcoin will complete its fifteen-year life in 2024, with its anniversary on January 3, continuing its proposal to bring the cypherpunk philosophy into the future. Apparently, at least part of the Ethereum community also wants to pursue the dream of a better world through secure cryptographic codes.

Source: Live Coins