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Home » Vitalik Buterin Reveals Three “Massive” Opportunities For Cryptocurrency In 2023

Vitalik Buterin Reveals Three “Massive” Opportunities For Cryptocurrency In 2023

  • Crypto
Vitalik Buterin
Vitalik Buterin

Three “massive” opportunities in cryptocurrency have yet to be achieved, according to Ethereum co-founder Vitalik Buterin: mass wallet adoption, inflation-resistant stablecoins, and Ethereum-powered website logins.

Buterin shared his outlook for the crypto industry in 2023 during an interview with Bankless co-owner David Hoffman, responding to Hoffman’s concern that the “adoption wave” for decentralised applications has now over and that there is “less opportunity” for developers to come in and build new decentralised applications.

Buterin, on the other hand, shrugged off the “limbo period” that Hoffman initially bypassed, and suggested that more development should be done in wallet infrastructure to make cryptocurrency usage easier for ordinary people make sure it’s able to onboarding billions of user.

The co-founder of Ethereum added, “If you can create a wallet that a billion people will use—a that’s massive opportunity.

Second, Buterin stated that the development of a hyperinflation-resistant and globally accessible stablecoin capable of enduring all types of situations — both on-chain and in the broader macroeconomy — would be revolutionary for the industry:

“If you can make a stablecoin that can actually survive anything up to, and including, a U.S. dollar hyperinflation […] that’s a huge opportunity as well if you can create something that will feel like a lifeline for everyone going through that situation.”

Buterin, on the other hand, made no technical proposals for how this could be accomplished.

Finally, Buterin stated that any technical advancements that help Ethereum take login powers away from Facebook, Google, Twitter, and other centralised monopolies will eventually allow Ethereum to acquire more market dominance on internet-based applications:

“If you can get signed in with Ethereum to work and if you can unseat Facebook and Google and Twitter as the login overlords of the internet, that itself is a huge opportunity, right?”

However, Buterin stated that the opportunity to fill market gaps was becoming less clear due to increased competition & market maturation.

Ethereum’s co-founder appears to have spent the last several weeks sharing his crypto learnings and advise, including his optimism about the industry’s future.

On December 5, Buterin said that the future of Ethereum and decentralised technologies also excites him, along with blockchain-based identity, decentralised autonomous organisations (DAOs), and hybrid apps.

A few days earlier, on December 3, the Ethereum co-founder emphasised the necessity of traders taking a long-term perspective by focusing on technical developments rather than on price.

Following the collapse of FTX on November 21, Buterin advised traders and investors to consider the extent of human influence that can be exerted on a protocol and more trust in the open and transparent code than humans.

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