Ethereum [ETH] it can be the equipment for the next big economic crisis, says the economist


Glen Weyl, Principal Researcher, Political Economy and Social Technology at Microsoft Research, New York City, recently participated in Twitter to appreciate the blockchain industry and culture. In his tweet, he mentioned Ethereum and his co-founder, Vitalik Buterin, specifying that the blockchain movement could be radical change that can be an important tool in the fight against the next recession. In his first tweet, Weyl wrote:

"It seems to me (but if anyone has a counterexample please point out) that the most serious and organized movement for a positive, forward-looking and liberal vision of the future (possible exception and overlap of #RadicalxChange) is the blockchain movement"

In addition, the researcher answered the questions "What is blockchain?" In one of the tweets and claimed that the application is not necessarily technical. According to him, one of the significant uses of Ethereum is the promotion of a vision for the future that can serve as equipment for the next great economic crisis. Here, he said:

"It seems to me that likewise, the" case of use "of @ethereum is less a particular technical issue and more than offers a vision of the future that can save us from returning to the years" the next time we we hit a recession, I wonder what you think about @VitalikButerin. "

He later clarified that he was extremely critical of current Ethereum technology as it formalises property but not people, which translates into the fundamentally anti-democratic and plutocratic ecosystem. Weyl has come to say that technology is not inherently transformative. The factor that attracts him to the blockchain is his ideals and organization.

He also showed that the blockchain movement is bringing people from every race, continent and I believe in acting in unity and working towards the idea of ​​decentralizing power. In his last tweet, the economist included:

"There is also the practice of decentralization in thought … there is no community I have visited where so many feel so empowered to challenge the views of the legitimacy of those who are more famous and prominent than they seem a little like the French revolution "

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Priyamvada Singh

Priyamvada is a full-time journalist at AMBCrypto. A graduate in journalism and communication at Manipal University, she believes that blockchain technology is a revolutionary tool for advancing the future. Currently it has no value in cryptocurrencies.

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