According to U.Today, Vitalik Buterin has recently highlighted the significant evolution of the cryptocurrency market since 2018-2019. Despite the changes, he emphasized that the fundamental principles of blockchain technology remain constant. Buterin's comments were in response to Joe Weisenthal's observation about the shift in crypto culture. Weisenthal noted that the crypto community previously focused more on concepts like open internet governance, universal basic income (UBI), and blockchain democracy. However, most current crypto projects are centered around memes or community developments for commercial gain.
Buterin countered this observation by pointing out that many of these concepts have significantly advanced and have been realized. He cited several projects, including decentralized social networks like Farcaster and Lens, which are working towards promoting digital democracy by fostering a more accessible and user-controlled internet. He also mentioned funding mechanisms that align with the principles of UBI and Collective Benefit. These mechanisms encourage equitable resource distribution and provide incentives for significant projects.
Buterin also highlighted the role of zero-knowledge proof voting implementations in enhancing voting privacy and security, thereby promoting trust in the democratic system. He emphasized that the fundamental principles of blockchain technology, such as decentralization, privacy, and creative funding models, continue to drive progress despite the market's current focus on financial aspects. The ongoing development demonstrates the community's commitment to leveraging blockchain technology for broader social and technological benefits. Buterin concluded by stating that the primary goal of building a decentralized, equitable, and open internet is still very much alive and is inching closer to becoming a reality every day.