Ethereum CEO envision Crypto Cities
Vitalik Buterin, co-founder and CEO of Ethereum network released a paper titled Crypto Cities, in this book was trying to explain the necessity of the government to try experimenting new technologies in various cities using Crypto as a focal point. He points to the combination of both the local governments to help enhance the ever-growing Crypto tech.
This paper was released after Facebook reportedly announced their intention to rebrand to Meta. Vitalik pointed out some cities already making use of the tech and noted their massive success, Miami coin, a crypto token built on Bitcoin that would be used for the development of the Miami city. Similarly, Reno is experimenting with RenoDAO and NFT projects.
Buterin hopes to use the available tech in cities to transform them to a true crypto City to enhance lives in various cities. The Metaverse which promises to be an extraordinary experience where we can literally do everything virtually using our avatars.
Buterin pointed out one project during his note and how the progress and mission of the project have seemed to impress him over the years, CityDAO, although not yet in existence like the cities project like Miami but are currently being built from scratch with the aim to create an entire new city built without help from the government.
He claimed the importance of Cities to experiment over the growing fame of crypto and the blockchain technology to the government system and also he pointed out two use cases for cities on why the need to adopt Crypto.
He urges cities to use the transparency which the blockchain offers for trust and verification process and also courage the need for a blockchain experiment for land ownership and price assets too.
Although the news of Metaverse has got everyone talking , the proposal by Vitalik Buterin can prove to be a solution to many problems faced by cities around the world.