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26 July 2021

Vitalik Buterin Beseeches Ethereum Crowd in Paris to 'Move Beyond DeFi' - Decrypt

Vitalik Buterin Beseeches Ethereum Crowd in Paris to 'Move Beyond DeFi' - Decrypt

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Buterin, 27, after a brief cross-legged meditation on stage before standing up to speak, said that Ethereum must be socially useful as well as financially beneficial, drawing a cheery response from an audience thrumming with DeFi entrepreneurs, investors and developers. .

He explained that such a process would allow Ethereum projects to flourish as a “public good.” .

But the core of Buterin's keynote laid out his hopes for Ethereum underpinning a new, ecumenical social media ecosystem that would encourage higher-quality posting and form the basis of users’ online identities.

This would stand as a direct alternative to centralized social media networks, which he criticized for their rampant data harvesting and the “misaligned incentives” which reward cynical posters with high engagement, and likes. 

Ethereum-based login options, on the other hand, would provide “credible neutrality,” censorship resistance, and a “built-in economic layer that makes it easier to do mechanism design.” He imagined social networks that only allowed vested members of an Ethereum DAO to post. 

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