Vitalik Buterin, the co-founder of Ethereum, shared his outlook for the crypto industry in 2023 during an interview with Bankless co-owner David Hoffman. Hoffman expressed his concern that the “adoption wave” for decentralized applications (dApps) has now passed and that developers have “less opportunity” to build new dApps.
Responding to this, Vitalik has discussed three “massive” prospects in crypto that have yet to be achieved, including
- widespread crypto wallet adoption
- inflation-resistant stablecoins, and
- Ethereum-powered website logins
We believe this can be an important roadmap for the crypto industry, currently not in the best of their phases. Let’s discuss in detail each one of them.
Widespread crypto wallet adoption
Vitalik expressed confidence that cryptocurrency wallet infrastructure can be improved to a point where it can become accessible, secure and capable of onboarding billions of people. Vitalik stated that if a wallet infrastructure could meet all those criteria, it would truly be an incredible opportunity.
He shrugged off the concept of a “limbo period”. Vitalik is committed to continuing to develop technology so that cryptocurrency can eventually become easy enough for everyday people to use with minimal technical knowledge.
Inflation-resistant stablecoins
His goal is to create a hyperinflation-resistant and globally accessible stablecoin that will stand up against all types of macroeconomic conditions. Such a project could be incredibly beneficial for those facing hyperinflation in their currency.
It could provide much-needed security, stability and access to funds when needed, essentially providing users with a lifeline during trying economic times. The power of such innovation cannot be understated, and hopefully, Buterin’s ambition can be realized soon.
Ethereum-powered website logins
Ethereum co-founder Vitalik Buterin sees vast potential in decentralizing login systems and taking away monopoly power from companies such as Facebook, Google, and Twitter. Ethereum’s first step should be to create Ethereum-powered logins that would not be under the direct control of these tech giants. In doing so, Ethereum could capture a larger market share of internet-based applications.
Ethereum presents an exciting opportunity for its users to regain data privacy and independence from these large corporations. Ethereum logins could potentially reduce the GDP footprint of these centralized monopolies and put more control back into the hands of users with their secure Ethereum networks.
Vitalik has shown interest in decentralized autonomous organizations, hybrid applications, and blockchain-based identity recently. He also stressed the importance of taking a long-term perspective and focusing on technical developments rather than just the price of the cryptocurrency.
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