Vitalik Buterin claims that blockchain utilities are entirely digital

Vitalik Buterin claims that blockchain utilities are entirely digital
Dec 2, 2018 by Rico Wise

Firstly, Buterin thinks that Ethereum platform still fits the description of a ‘world computer’, being a common computing domain, which allows anyone to build and operate software on it.

The founder of Ethereum has also reflected on the experience, which sees those interested by the blockchain technology subsequently discovering their own means of implementing it in their own businesses, referred to by Buterin as plenty of time wasted. By that he understands the many major corporate blockchain cases, which are trying to force everyone onto their platforms.

By that he was referring to some of the IBM’s blockchain campaigns, as well as those connected with food. Buterin seems to be appalled by the concept of corporations being in charge of the blockchain intellectual property. This reaction does not come as a surprise, considering the open-source nature of Ethereum’s protocols and nearly the whole code connected with digital currency. He also stated that the campaigns do carry a certain value, although he does not think that the firms are doing the right thing.

Speaking of the most valid implementations of blockchain innovations, Buterin stated that digital currencies and payment platforms are the main and the most valid implementation of the revolutionary technology. Furthermore, he stated that in his opinion, blockchain will be of most use to those things that are completely digital.

This falls in line with the opinion expressed by the co-creator of NEO, Da Feng, who lately stated the gaming would most probably become the next stage for expansion of blockchain innovations, which has already been proven by a number of companies. Surely enough, there is plenty of digital property to be protected with the blockchain technology outside of the items in the game itself, including player’s account data and access, with some of them definitely being able to enjoy the advantages of the censorship-resistant blockchains.

Additionally, Buterin has mentioned his favored currently existing blockchain implementation as ‘this thing in Singapore’ that intends to facilitate academic degrees validation, which is most probably the reference to the NEM startup in Malaysia, although it might also be a reference to the startup designed by the students of Rice University.