Ethereum Co-Founder Proposes Blockchain-Based Hybrid Model for Future Cities

Ethereum co-founder Vitalik Buterin recently proposed a groundbreaking concept for a city that integrates the principles of democracy, capitalism, and decentralization into a hybrid model.

His ideas surfaced during a discussion on Farcaster, his preferred social media platform, where he responded to the topic of “for-profit cities.” This concept, which conjures images of corporate-run cities like “Walmartopia” or “Teslaville,” suggests that city governance could operate similarly to a business venture.

When asked whether cities should function as profit-driven entities or serve the public good, Buterin supported a middle-ground approach. He emphasized the need for public infrastructure that serves all income levels, cities that benefit both the nation and the world, and humanitarian values that prioritize meaningful solutions to issues like homelessness.

In Buterin’s ideal city, citizens would gain more access to governance through assets, while landowners would see reduced stakes and higher taxes. He argued that this approach would better align incentives with the success of the entire city.

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He also highlighted the benefits of land value taxes, which would motivate governments to improve local public goods, ultimately raising land values, while allowing landowners to retain the full value of any developments on their property.

Buterin’s vision blends elements of decentralized autonomous organizations with taxation and profit incentives, effectively merging socialized democratic processes with a capitalist framework.

Alexander Stefanov