Ethereum creator Vitalik Buterin gave a chat at the Usina del Arte, Argentina. Where he analyzed the news of the crypto world. In addition, he spoke about the Argentine economy and the reasons for the boom in the region.
By the way, the unexpected visit of Vitalik Buterin to Argentina, generated a furor in the environment. Tickets to hear it live were sold out in less than 10 minutes.
In fact, Vitalik Buterin assured that the Argentine crypto community is one of the largest that he saw in the whole world. «The country has an incredible amount of talent. And a real need for Blockchain technology».
«I thought that Buenos Aires was the world’s top 5 crypto capital. Argentina has created several of the protocols that are leading globally mounted on Ethereum. But after this trip, Argentina is not top 5, it is the crypto capital of the planet».
Questions and answers with Vitalik Buterin in Argentina
In particular, after 8 pm on December 21, Vitalik Buterin took the stage of the Usina del Arte, in the capital of Argentina. The audience of about a thousand people received the developer standing up and with a standing ovation.
«I’m very impressed. I did not expect the size of the Argentine crypto community. The number of projects, of interested people, make the Argentine crypto community one of the largest I have seen in any other part of the world so far».
Specifically, presented by Santiago Siri and Olivia Goldschmidt, Vitalik Buterin was relaxed and open to answering questions.
Thus, among the topics discussed for about an hour and a half were: Argentina, Ethereum, youth, leadership, scalability and mining and proof of stake.
Immediately, one of the most focused questions pointed to the Argentine economic situation. And how could the decentralization of cryptocurrencies help solve certain problems.
«The impression I have of Argentina is that it has a low state capacity, but a lot of capacity in its people. This is often the best ecosystem for projects to flourish, people understand that they have to see how to avoid inflation and that is why they appear open to new ideas».
Furthermore, Vitalik Buterin added: «Crypto is really great opportunity for small countries that have not been winners for the last 50 years. And many consequences are impossible to predict».
«We see that Argentina has a lot of crypto talent despite not being the center of the economy».
What is your favorite project?
Precisely, Vitalik Buterin’s favorite project is Proof of Humanity (PoH). Which is an identity validation system that associates Ethereum addresses with real humans.
Basically, it is not the first time that Vitalik Buterin mentions it, but days ago, during a meeting with entrepreneurs and the crypto community, he pointed out that PoH is his preferred Ethereum project globally.
What did Vitalik Buterin think about NFTs and scams?
Also, about NFT technology, Vitalik Buterin wondered: «Will they survive a decreasing cycle? It is not yet known. They’re growing, but next time BTC or ETH drop in price, are NFTs going to drop 50% or more? We do not know it yet. Will they last? We’ll see».
Likewise, Vitalik Buterin also spoke of the large number of scams that exist with cryptocurrencies: «There are things that as a community we can accomplish to solve problems. An example of illegal activity is scams: society and especially in countries with little education are greatly affected. I believe that as a community we can do more to warn people of scams».
What would it take for Ethereum to fail?
«If Ethereum fails to scale, then Ethereum definitely failed. If Ethereum manages to scale, but becomes centralized, I think it failed as well. When Ethereum manages to scale and decentralize as a Blockchain, but nothing interesting is built on it and no one really gets any value from it, then it also fails».
Other things that Vitalik Buterin did in Argentina
As a curious fact, Vitalik Buterin said: «It is the first time that I have felt in a country with this level of affection and popularity. Where I can’t practically walk a block without being asked for a photo».
Precisely, on Friday night the 17th, a few hours after landing in Buenos Aires, Vitalik Buterin participated in a programmers’ event in Palermo.
Later, at noon on Saturday, he met former President Mauricio Macri at a lunch with entrepreneurs and leaders. By the way, Macri classified Ethereum as «one of the most innovative decentralized technologies of our century».
During the meeting, they discussed how decentralized and collaborative technology is transforming the lives of people around the world, and the need for governments and states to adapt and apply this technology.
Meanwhile, Paleobit, a maximalist bitcoiner took it upon himself to lead Vitalik to a cryptocave. And, involuntarily, he did witness a march in Plaza de Mayo.
«I waited for them at the Starbucks in Florida and Rivadavia, two, three … and the last to arrive was Vitalik, who was seated in front of me at the Starbucks table».
To better understand, in the everyday speech of Argentines, a cave is a currency exchange house that operates clandestinely. In bitcoiner jargon, cryptocaves are called those that incorporate the sale of cryptocurrencies.
On the other hand, visited Barrio 31, the most deprived neighborhood in the city of Buenos Aires, originally called Villa 31 and later Barrio Padre Carlos Mugica. The visit was with the social leader Juan Grabois.
Advice for the youngest
Very important: “The world is open to you. You are entering a point where elements of the old order are collapsing, but we are also at a time where we don’t really know what the world is going to be like. It is your opportunity and responsibility to be part of trying to understand the solution and build it.».
At the end of the talk, he was forceful in his message regarding the future: «I am optimistic in terms of adoption. One of the reasons that make me think that the price of crypto will not go to zero is because they have very dedicated communities behind them. I think Bitcoin and Ethereum have enough people dedicated to this that they are going to make it never go away. Today they are international currencies».
However, he said you have to be prepared to see a bear market. In which, the price of crypto could fall between 80 or 90%.
By way of closing, Vitalik Buterin said: «The projects that survive such a market will be what really have value».
I say goodbye with this phrase from Vitalik Buterin: «In 2022 we can make Ethereum decentralized. But also applicable».