Ethereum (ETH) creator Vitalik Buterin is laying out what he hopes the end goals are for the second-largest crypto by market cap.
In a new interview with the Bankless podcast, Buterin says Ethereum is guided by values rather than ultra-specific ultimate goals.
“Ethereum’s ethos from the beginning has been to insist on a few particular values but otherwise not have its own picture of what specific things it brings to the world, but leave that up to the ecosystem and lots of different groups to create their own vision. And I think just having a well-functioning global cryptocurrency is a huge amount of value by itself. It’s especially valuable to people outside of the first world and in places like Latin America, Africa, Eastern Europe and Central Asia and other places that have a harder time with the existing financial system.”
Buterin envisions Ethereum serving as the “substrate” for decentralized autonomous organizations (DAOs) and other mechanisms.
“Identity is one of the biggest examples. Can we create some kind of more decentralized model of identity and really start with some of the tools that the Ethereum ecosystem has already, whether it’s accounts and hopefully soon social recovery wallets and ENS [Ethereum Name Service]?”
The Ethereum creator also says “proof of humanity” and blockchain-based social media are also possible goals for the project’s network.
ETH is trading at $1,355 at time of writing. The leading smart contract platform is up more than 2.6% in the past 24 hours.
I
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Net Vector TWStock