Vitalik Buterin blockchain technology

Vitalik Buterin expresses his views on how blockchain technology presents the values of democracy in a new light.

He emphasizes that thanks to blockchain, we can reconsider the concept of democracy and freedom, especially in the context of the relationship between private and state property. The co-founder of Ethereum notes that the emergence of Bitcoin as a decentralized payment system was a starting point for exploring technology beyond the currency domain.

Buterin highlights that blockchain not only protects private rights but also provides a secure space where property is not dependent on changes in the opinions of others. In his opinion, this ensures the freedom to create, store, and distribute value on the internet.

In the example of his blog, closed in the traditional system after the liquidation of the service provider, Buterin points out that in the decentralized data storage system based on Ethereum infrastructure ENS, information continues to exist.

He also emphasizes that key decisions, such as transitioning to the Proof-of-Stake algorithm, are made by the community within democratic procedures. According to Buterin, the development of technology and the emergence of second-layer solutions like Optimism expand the possibilities of funding public goods in a public manner.

Vitalik claims that blockchain has already demonstrated the potential to build a fairer and decentralized society.

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