Ethereum co-founder (ETH), Vitalik Buterin, said blockchain applications outside of finance were finding it increasingly difficult to gain ground, their main added value being decentralization. Buterin made the remarks during a speech at the crypto event Token 2049 in Hong Kong on March 13.
Buterin began by noting that finance is "realistically the first chain of blocks [application] this will probably lead to large-scale adoption ", and even though he has declared himself a big fan of other applications:
"The problem is that decentralization is fundamentally their added value. With finance, you are competing with banks that take five days to do something interesting. With anything that is not financial, there is a chance that something Internet does what you want, it's just centralized. So the terrain is a bit harder. "
Among the areas in which blockchain can go beyond finance, Vitalik has isolated digital identity, reputation and digital certificates in particular, all of which have use cases that are not limited to necessarily using cryptocurrencies or financial markets.
In his analysis of the current state of blockchain adoption, Buterin called on event participants to identify real-world applications that are developing "not only in theory, but on the ground". Examples of audiences include microinsurance, non-fungible chips and gaming.
On this last point, Buterin said that while many people are determined to block innovation thinking that it can solve real-world problems with positive social impact, use cases Entertainment, such as games, are valuable areas where technology can attract a large number of early adopters. .
Speaking of his personal commitments, Buterin highlighted decentralized applications (DApps), which allow multiple players to share and cooperate on applications based on an underlying and decentralized blockchain protocol.
He proposed that the case of using DApps could potentially redraw the existing technological and energy landscape by taking advantage of a decentralized ecosystem to allow smaller players to compete with the monopolies of technology giants.
In a recent interview, Buterin said he was trying to solve Bitcoin's limited functionality (BTC) with the creation of Ethereum. He compared the ability of Bitcoin to do one thing and to do it well, with the aspiration to make Ethereum more like an awning for applications that can do almost anything.