Ethereum co-founder Vitalik Buterin shared three “huge” opportunities yet to be realized in crypto: mass wallet adoption, inflation-resistant stablecoins, and powered website logins. by Ethereum.
During maintenance Along with Bankless co-owner David Hoffman, Buterin shared his outlook for the crypto industry in 2023, addressing the concern expressed by Hoffman that the “wave of adoption” for decentralized applications is now over and that he there are “fewer opportunities” for Upcoming developers create new decentralized applications.
Buterin instead ignored the “period of limbo” that Hoffman escaped, first suggesting that more development needs to be done on the wallet infrastructure to make crypto easier to use for ordinary people and to ensure that it is capable of integrating billions of users.
“If you can create a wallet that a billion people will use, that’s a huge opportunity,” said the Ethereum co-founder.
Second, Buterin said that the creation of a Stablecoin resistant to hyperinflation and accessible worldwide that can withstand all types of conditions – both on-chain and in the broader macro economy – would be game-changing for the industry:
“If you can create a stablecoin that can actually survive up to and including US dollar hyperinflation […] it’s also a huge opportunity if you can create something that will feel like a lifeline for everyone going through this.
Buterin, however, offered no technical suggestions on how this could be achieved.
Finally, Buterin said that any technical development that helps Ethereum remove login powers from Facebook, Google, Twitter, and other centralized monopolies will ultimately enable Ethereum to gain greater market dominance in internet-based applications:
“If you can connect to Ethereum for work and if you can overthrow Facebook, Google and Twitter as the connection masters of the internet, that in itself is a huge opportunity, isn’t it?”
Buterin said, however, that the opportunity to fill market gaps is becoming less obvious due to increasing competition and market maturation.
The Ethereum co-founder seems to have spent the last few weeks sharing his knowledge and advice for the crypto space, including his optimism about the years to come for the industry.
Buterin said on December 5 that blockchain-based identity, decentralized autonomous organizations (DAOs) and hybrid applications also excite him about the future of Ethereum and decentralized technologies.
A few days earlier, on December 3, the Ethereum co-founder reiterated the importance for traders to have a long-term view in focusing more on technical developments than prices.
Following the collapse of FTX, Buterin advised traders and investors on November 21 to consider the level of human influence that can be exerted on a protocol and to trust open and transparent code more than humans.