Opening
In this exclusive interview, we delve deep into a conversation with Vitalik Buterin, the founder of Ethereum, exploring the relationship between blockchain and artificial intelligence, the current state of the crypto industry, and the challenges it faces in the future.
Advice on Choosing a Career in Tech
Buterin emphasized that when it comes to choosing a career in technology, the most important factor is to follow your passion. While the recent rise of artificial intelligence has drawn many talents away from the blockchain space, true motivation should come from a genuine interest in the field.
He noted that with the rapid growth of AI, the crypto industry experienced a temporary cooling-off period before quickly rebounding into a bull cycle. Many individuals who used to work in crypto have now shifted their focus to AI. Buterin categorized participants in the industry into three groups:
Those driven by impact and wealth: These individuals aim to make a mark on human history or are simply motivated by financial gain.
Crypto philosophy enthusiasts: These are people who care about issues like monetary systems, open-source principles, trust, and human freedom. They remain committed to blockchain no matter the trends.
Those solely motivated by money: Participants in this category often produce lower-quality work, which can stifle innovation in the industry.
Challenges for the Industry's Future
Buterin expressed concern about the potential loss of talent in the crypto space, which could lead to a lack of innovation. If the industry becomes dominated by repetitive financial products—such as launching new coins and building exchanges—it risks stagnation. He warned that if these trends persist as the primary direction of the industry, it would ultimately be a failure.
The Gap Between Web3 and Real-World Applications
When discussing the Web3 ecosystem, Buterin admitted that over the past few years, the crypto industry has faced several challenges, including high transaction fees, immature technology, account security, and privacy issues. These hurdles have prevented many potential real-world applications from being realized.
Reasons Behind DeFi's Success
Buterin also pointed out that one reason for DeFi's success is its ability to offer the allure of high returns, despite the inherent technical and security risks. This high-risk, high-reward dynamic has attracted a large number of users to participate.
Vision for Crypto
Buterin’s vision for crypto revolves around solving trust issues and creating a fairer, more open society. He highlighted how crypto can provide a reliable financial system in countries with unstable economies, such as Argentina, helping people better manage their wealth.
To be continued…
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