At the Token2049 conference in Singapore, Ethereum co-founder Vitalik Buterin discussed the evolution of cryptocurrencies, stating that the industry has moved beyond its early phase.
He emphasized that both Ethereum and Bitcoin, which have been around for over a decade, have outgrown the initial developmental stage.
Buterin highlighted that cryptocurrencies are now in a transformative phase, shaped by technological advancements like ChatGPT. He argued that the benefits of crypto outweigh similar technological innovations and suggested that the sector is well past its formative years.
Regarding Ethereum’s future, Buterin outlined a 10-year vision focusing on mainstream adoption while preserving decentralization. His goals include improving wallet security, payment systems, privacy tools, and advancing Ethereum’s layer-1 blockchain.
He also shared a personal anecdote about his attempt to use ETH for a coffee purchase in Argentina, which was hindered by high transaction fees and slow processing times.
Buterin believes Ethereum has significant potential to enhance technological progress and contribute to a more robust global financial system.
The SEC has sought a four-month extension in its investigation related to Coinbase, pushing the deadline to February 2024, just after the US presidential election.
DZ Bank, Germany’s second-largest financial institution, has teamed up with Boerse Stuttgart Digital to offer cryptocurrency trading and custody services across its network of cooperative banks.
Charles Hoskinson, founder of Cardano, will meet with Argentina’s President Javier Milei in October to discuss blockchain’s role in shaping future economies.
Binance has seen a sharp rise in interest from institutional and corporate investors, with a 40% increase in participation this year, according to CEO Richard Teng.