Here’s why ETH co-founder Vitalik Buterin has high hopes from crypto in 2023
- Vitalik Buterin spoke about the future of Ethereum in an interview
- He elaborated on ETH’s use case as a wallet infrastructure and stablecoin
Vitalik Buterin, the man behind the world’s second largest cryptocurrency, Ethereum [ETH], shared his outlook for crypto in 2023.
In an interview with Bankless on 20 December, Buterin spoke about the measures to increase ETH adoption and bring technological advancements throughout this year. Both of these segments were dwarfed by massive failures.
Plenty of room for adoption
When asked by Bankless co-owner David Hoffman about the potential for more adoption and concerns about the “adoption wave” for decentralized applications coming to an end, the Ethereum co-founder indicated that there was still plenty of room for adoption.
Countering Hoffman’s opinion that there was “less opportunity” for builders to develop new dApps. Buterin stated that 2023 would actually offer more opportunity to developers who could work on three key issues: Wallet adoption, inflation resistant stablecoin, and Ethereum-powered website logins.
While emphasizing on the need for a globally accessible wallet infrastructure, Buterin stated,
“If you can make a wallet that a billion people will use, that’s a huge opportunity.”
The second opportunity that he spoke about was a stablecoin that is suitable in an inflationary environment. The co-founder explained,
“If you can make a stablecoin that can actually survive anything up to, and including, a U.S. dollar hyperinflation that’s a huge opportunity as well.”
Use cases for Ethereum in 2023
Buterin also addressed the use cases for his own blockchain. He indicated that developers who made technical contributions towards taking away the login powers from centralized monopolies, like Twitter and Google, would lead to increased market share for Ethereum. This was as far as internet-based applications were concerned.
However, he cautioned viewers that, given the increasing competition in the market, the opportunity to capitalize on these market gaps was closing fast.
Other than the above-mentioned opportunities, Buterin initially stated that he was excited about the future of Ethereum and decentralized tech. He was especially looking forward to tech involving blockchain-based identity, decentralized autonomous organizations, and hybrid applications.