Gossip on public goods beyond DeFi — recap of the talk of Vitalik in EthCC
The vision for Ethereum, and much of crypto beyond Ethereal, has always been to take decentralization, trust minimization and mechanism design experimentation far beyond finance.
Move beyond efficiency, invest beyond DeFi
A recap
on Vitalik’s talk in EthCC last month. He brought back his vision of Ethereum back in 2013. Blockchain or Ethereum, it’s always look further than just finance, it’s proof of humanity and more. However, today, sadly… DeFi now defines Ethereum. (Original video souce can be found here: https://www.youtube.com/watch?v=rindmpIZ1Fs, some pictures are screenshot from EthCC)
In an ideal world, there is a misconception: crypto communities don’t just have price as a common interest, but also utility. But today… it’s only about price. hmmmm…Price is great, but we also need utility, actually more utility.
Vitalik proposed two goals for the future of Ethereum and crypto:
Basically when we start a crypto-related project, I think we have to just be acting like a startup, focus on the true value and problem solution fit.
Vitalik talked about social media, identity (Ethereum login), attestation ecosystem and he talked about the Public Goods.
The Key takeaways from Vitalik:
- Ethereum ecosystem needs to expand beyond just making tokens that help with trading other tokens
- It’s already happening to some extent, but we can do more!
My #gossipiece
I can’t agree more with Vitalik, when I gave the talk in Synopsis month ago, I made the same voice that we entrepreneurs in the crypto industry really really really have to do something valuable to the society.
Even just looking at the Centrlized finance industry that we are spitting at… they are doing amazing things to boost the whole human evolution. With out the capital, startup can’t scale up that fast, there won’t be enough money to invest in high tech. How can we go to Mars if there is no bank and VC give money to Elon Musk?
However, looking at the DeFi world. It’s about going to the moon (price), it’s about yield, yield on your yield, which is farming. It’s all about price and build the finance. I mean build the fundamental decentralize finance is crucial, but we should never loose the vision for moe public good and value to the society.
The best minds are flooding into DeFi (and NFT), it’s really difficult in recuitment T.T i have to admit. Just like people building up the Wall Street, all the elites from top universities go to private fund, stock agent, become a stock broker. That’s the fast money. There is no problem to go for the money, but there is a problem if we only look at the money.
Build something that brings value to other people, to the society and the human future.
About Gossip on Tech/Gossip on XXX
It’s a not-for-profit independent media channel to gossip on tech and everything, mostly tech ;P We try to bring the funky new stuff here and what we do? We gossip about it.
Auther: Yudi (https://www.linkedin.com/in/xuyudi/)
Founder of Things Protocol, Project Lead (CEO) of MobiFi
Ex-CTO advisor in Royal Dutch Shell
Twitter: https://twitter.com/yudixu
