Vitalik Buterin, co-founder of Ethereum, shared three “huge” opportunities in crypto that have yet to be realized. Certain altcoins in particular attracted attention in these areas. Here are the details…
Vitalik Buterin expects a revolutionary wallet
Vitalik Buterin announced the next three big opportunities in crypto in a program he attended most recently. According to Buterin, these are “mass wallet adoption, inflation-proof stablecoins, and Ethereum-powered website logins.” In an interview with Bankless co-owner David Hoffman, Buterin responded to Hoffman’s comments that the “wave of adoption” for decentralized apps is now over. He shared his prediction for the crypto industry in 2023, responding to Hoffman’s concern that there are “less opportunities” for developers to come into the space.
Buterin shrugged off the “period of uncertainty” that Hoffman had avoided, first suggesting that more improvements should be made to the wallet infrastructure to make cryptocurrency easier to use for ordinary people and to enable it to attract billions of users. “If you can make a wallet that a billion people will use – that’s a huge opportunity,” the Ethereum co-founder said.
Emphasizes the need for an inflation-proof stablecoin
Second, Buterin said that creating a hyperinflation-proof and globally accessible stablecoin that can withstand any condition both on-chain and in the broader macroeconomics will be revolutionary for the industry. Buterin used the following statements:
If you can make a stablecoin that can truly withstand anything, including US dollar hyperinflation […] it’s also a great opportunity if you can create something that will feel like a lifeline for anyone going through this situation.
Buterin did not offer any technical suggestions on how this could be achieved.
Vitalik Buterin hopeful for Ethereum-based internet
Finally, Buterin said that any technical improvement that contributes to Ethereum obtaining login authorizations from Facebook, Google, Twitter and other centralized monopolies will ultimately enable Ethereum to achieve greater market dominance in internet-based applications. Buterin used the following statements:
If you can sign in with Ethereum to work and overthrow Facebook, Google and Twitter as the ‘login masters’ of the internet, that in itself would be a great opportunity, right?
Market opportunities are less obvious now
Buterin noted that the opportunity to fill market gaps has become less obvious due to increased competition and the maturation of the market. The Ethereum co-founder has spent the last few weeks sharing his learnings and advice for the crypto space, including his optimism for the industry in the coming years. On December 5, Buterin stated that blockchain-based identity, decentralized autonomous organizations (DAOs), and hybrid applications also make him excited about the future of Ethereum and decentralized technologies.
A few days ago, on Dec. 3, the Ethereum co-founder reiterated the importance of traders taking a long-term perspective, focusing more on technical developments than price. After the collapse of FTX, Buterin advised traders and investors on November 21 to assess the level of human influence on a protocol and to trust open and transparent code more than humans.
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