The Crypto Industry Needs To Better Explain Its Benefits, Says Ethereum’s Vitalik Buterin
The crypto industry has been evolving really fast, and the primary goal of mass crypto and blockchain adoption is also being followed with the latest moves in the crypto space.
Still, there’s a long way to go, and Etherteum‘s founder believes that there are some things lacking in order to achieve success.
The crypto space reportedly needs to explain its benefits better
Vitalik Buterin said that the crypto industry needs to de a better job of explaining the benefits of crypto and blockchain.
During a brand new interview with The Star, Buterin talked about the use cases for the emerging tech.
The Daily Hodl notes that these include: “decentralized finance, gaming platforms, digital identity, healthcare, voting, fundraising, security infrastructure, and more.”
He said: “One of the big things that need to be communicated is the fact that five years ago the blockchain was just about Bitcoin, but now it’s much bigger than just Bitcoin. It’s split off into separate spaces that have a lot of different visions…”
Buterin continued and explained: “For Ethereum, what we care about is taking the blockchain technology behind Bitcoin that makes decentralized cryptocurrency possible and making it more general-purpose so that other things can be decentralized in the same way.”
Governments have a huge role in regulation
He also believes that governments have a long way to go regarding the understanding and the implementation of their role in the ways in which the crypto and the blockchain-based platforms develop.
Their roles in regulation are enormous, according to what he has to say.
Ethereum’s platform to scale by 100x
He also addressed the future of Ethereum and said that the platform would scale by at least 100 times.
The transactions fees will become lower than ever, and this is only the beginning.
We recommend that you check out the complete interview.
Vitaly Dmitriyevich "Vitalik" Buterin is the co-founder of Ethereum, the world's most popular smart contract platform that enables developers to build decentralized applications (at the time of wirting this, ETH has a market cap pf $2B). Prior to his development of Ethereum, Buterin was the co-founder of Bitcoin Magazine.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.