Vitalik Buterin: “Ethereum must expand beyond DeFi”

Vitalik Buterin Ethereum must expand b

Speaking at EthCC, crypto millionaire Vitalik Buterin, founder of Ethereum, wants the network to expand beyond decentralized finance (DeFi).

“Being defined by DeFi is better than being defined by nothing. But it is necessary to go further ».

It is worth mentioning, that in the last year, the technological advancements for Ethereum have been considerable, internally with the successful launch of ETH 2.0 in December 2020, and the approval of EIP-1559. In addition, the adoption of multiple layer 2 solutions, which have minimized transaction fees and optimized network speed.

Likewise, there have been great strides in the adoption of Ethereum by mainstream finance, with PayPal introducing ETH as a payment option and Visa settling Stablecoins transactions on the Ethereum Blockchain.

Ethereum must innovate beyond DeFi

Ultimately, Buterin outlined his vision for the future of Ethereum, explaining that “it has always gone beyond finance.” He focused on the potential use of decentralized social media, explaining that it was an “interesting category” that mattered to him.

“Going beyond DeFi is not about being against DeFi. In fact, I think the most interesting Ethereum applications will combine financial and non-financial elements. “

In the same vein, he noted that decentralized social media had recently become a point of interest among other crypto enthusiasts. For example, referencing Stani Kulechov’s recent suggestion for Aave to build “Twitter on Ethereum.”

In this way, Vitalik Buterin completed his talk by stating that the “Ethereum ecosystem has to expand beyond simply making tokens that help with the exchange of tokens.”

Let’s not just do DeFi.

The EthCC

In particular, the Ethereum Community Conference (EthCC), held in Paris / France, is Europe’s largest annual Ethereum event, focused on technology and community. In fact, three days of the conference (July 20, 21 and 22), networking and learning.

Furthermore, at EthCC (Ethereum Community Conference), sharing and transmitting knowledge is believed to be the most efficient way to develop a positive and fertile ecosystem.

This is why EthCC covers many different topics and addresses different levels of understanding of Blockchain technology, through conferences and workshops.

In this regard, Jerome de Tychey, founder and president of Ethereum France said: “We are delighted to be able to make our comeback and provide the community with the opportunity to reconnect after the tumultuous times that followed EthCC in March 2020.”

Also, he added: “Once again we have the opportunity to come together and continue to share our knowledge and educate each other about community developments.”

For her part, Samantha Yap, CEO of YAP Global said: “Conferences and physical events are essential to bringing this global Ethereum community to life. So we are delighted to support the EthCC team for this much-needed meeting. ”

I close with this phrase by Thomas Carlyle: “Speeches that do not lead to some kind of action are better not delivered.”