3 big opportunities of digital currencies in 2023 from the point of view of Vitalik Buterin

Vitalik Buterin, one of the most influential figures active in the blockchain industry, believes that there are still many opportunities for innovation in this sector. The Ethereum founder’s proposals may seem a little ambitious, but they all ultimately serve no other purpose than to expand the adoption of digital currencies.

According to Cointelegraph, in an interview with David Hoffman, one of the owners of Bankless media, Vitalik Buterin shared his vision of the digital currency industry in 2023. He responded to Hoffman’s concerns about the end of the adoption wave of decentralized applications and less opportunity for developers to enter the industry and build new applications.

Buterin avoided answering one of Hoffman’s questions about the uncertain future of the cryptocurrency space, but did suggest that more improvements need to be made to the infrastructure of wallets to make cryptocurrencies easier for ordinary people to use and to ensure that the sector can Accepted by billions of users.

The founder of Ethereum said:

If you can make a wallet that can be used by a billion people, that would be a huge opportunity.

Butrin said that creating a hyperinflation-proof, globally accessible stablecoin that can withstand any conditions, both at the blockchain and macroeconomic level, would be revolutionary for the industry.

He said about this:

If you can build a stablecoin that can actually survive anything, including US dollar hyperinflation; If you can create something that feels like a lifeline to anyone in that situation, that would be a huge success.

However, Buterin did not provide any technical solutions on how to achieve this.

Ultimately, Buterin said, any technical advances that help Ethereum wrest the monopoly power of Facebook, Google, Twitter and other login-focused platforms will enable the network to further dominate the app-based market. get internet

Ethereum co-founder says:

If you can log into your account with Ethereum and ditch Facebook and Google and Twitter as the masters of logging in, that would be a huge opportunity, wouldn’t it?

However, Buterin noted that increasing competition and market maturity have resulted in fewer opportunities to fill market gaps.

It seems that the founder of Ethereum has spent the last few weeks sharing his learnings and advice about digital currencies; including his optimism towards this industry in the coming years.

Buterin said on December 5 that blockchain-based identity, decentralized autonomous organizations (DAOs) and hybrid applications excite him about the future of Ethereum and decentralized technologies.

A few days before that, on December 3, the founder of Ethereum once again emphasized the need to have a long-term perspective, focusing more on technical developments rather than price.

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