Ethereum faces an identity crisis. Its original symbol, ETHER (ETH), poor performance Against competitors, builders have long started to ask whether the series technology is behind the knees – and if its community loses its focus.
The Ethereum Foundation, a non -profit organization that it developed, has been blamed in the development of ETAREM, in many network conflicts. The co -founder Vitalik Buterin leads a huge leadership leadership in the organization, but its central impact on this process has sparked his own debate.
Meanwhile, competing ecosystems such as Solana benefit from uncertainty, attracting higher talents and eth out of the market.
Amid this turmoil, a new project, Etherealize, aims to bring ETH to Wall Street. Etherealize, founded by the former banker Vivek Raman, seeks to bridge the gap between traditional financing and ethereum, and put ETH as a dangerous assets.
Raman, who spent a decade in banking services before the coding, believes that his traditional financial background gives him a unique perspective. It has spent the past four years in the basis for stirring the ether, and chose to launch it in January-a time of increased optimism in the market driven by the friendly White House’s expectations for encryption, even with Ethereum struggle with internal conflicts and price stagnation.
In a recent interview with Coindsk, Raman discussed his vision of ETH and the broader landscape of encryption, including:
• His journey to Ethereum and Etherealize.
How is ETH marketed to Wall Street.
• The role of Ethereum and bank’s views on Rollups Layer-2.
This interview was released for briefing and clarity.
You have faced all this experience in traditional financing, and call yourself the newcomer to the Ethereum world. Walk to me how I got to encryption, what is that moment?
Raman: You are trading in four banks, trading the most severe internal products-high bonds, troubled bonds, leverage loans, credit virtual bodies and things. This is all the backbone of the economy, but I saw the extent of efficiency.
When you watch the movie Wall StreetAnd you see everything that is circulated on the phone, you are like, “Oh, the system may have been upgraded”, but he did not. He is still trading like this.
I saw it for 10 years. I lived. I am very lucky because I really built a good network, and I have all these amazing mentors, all of these people who run banks and run offices.
But after 10 years, the technological pace of Wall Street did not evolve at all, and I was like, “Let me find something else.”
When I left Wall Street, I went to Austin, Texas, and I fortunately met some Ethereum Core developers in the research and development team. She was Work on integrationAnd learn about ethereum.
While I was in Wall Street, it was very counter because of the organizers. The “moment of adoption” was not close for 10 years that I was there. But when I found Ethereum, I realized that this is the solution for the Lol Street.
There are different ingredients to excite, right? Where comes the “marketing” part?
Raman: So three interconnected things.
The first thing is that everyone uses ethereum. ETHEREUM is the most compensated smart nodes platform. Bitcoiners only talks about Bitcoins – perhaps because there is not much benefit, so all you can do is talk about it.
It looks like with Ethereum, there is so much useful that no one actually talks about ETH assets. But the original is very important for the ecosystem; For better or worse, people use origin as an agent for the health of the ecosystems. Part of the reason I think Solana has a lot of lights not because it is necessarily the best technique; This is because the distinctive symbol has risen a lot.
So the first thing is to talk about Ether as the origin – as a wallet diversity, as a complementary thing for Bitcoin – and the provision of this content, research and marketing for ETF exporters, for the broader audience and institutions.
The second is that Ethereum is clearly a benefit platform. This new financial internet; They call it the “operating system for financial economy”. So we know ethereum as a platform and what you can do with it: you can distinguish the assets. You can create Layer-2 ecosystems, where banks can already have their own networks to customize them to bring their customers to the chain.
Then, thirdly, we really try to make a call to work. The call to work is to distinguish assets on ETHEREUM or build a layer 2 on ETAREUM, and we build a product wing to facilitate the Wall Street trading actually on Ethereum Blockchain.
Ethereum suffers from the identity crisis. Its price is behind other encrypted currencies, ETHEREUM is under stop, and Crypto members express their differences over the Central Vitalik Boterin role in the ecosystem. Etherealize comes to its fruits in a moment when the ecosystem needs the marketing or invitation arm. Is Wall Street the ethereum savior?
Raman: I don’t think it is a silver bullet. Ethereum should not have to do everything, and Vitalik does not have to do everything. Research and Development-High-level and advanced strategy and road map to ETHEREUM resistance for the future for the next 100 years-a Vitalik function.
Who is the role of talking about these ecosystems? It is the application layer. They are institutions like Etherealize.
The problem is that once the Overton window has turned from organizational attacks to organizational acceptance, other ecosystem -1 ecosystems, which have central companies and a central scheme behind it, got the marketing and marketing market share. But ultimately, the best of the best is Vitalik – the best of the best is the EF researchers.
I spent years developing this action plan, and I got to know the right time to hit. I got a registration after Vitalik and EF- He gave us a small grant to start last August. But I did a lot of due care. I wiped many institutions and asked whether this is the moment. It was.
I discussed the role of Ethereum (EF). Some believe that the foundation is responsible for operating the ecosystem. How to divide the roles between EF and Etherealize?
Raman: EF has great people in marketing – there is a lot to do.
We have this whole ecosystem of layer 2 that needs coordination. “Ethereum does not have a single business development arm, and has thousands of business development weapons,” says one of the people in the leadership of Ethereum, which is all applications, which are all applications, 2s layerEtc.
We are here to work as a channel for all different applications and double layer. We have access to people who already want to use Ethereum: Wall Street players and institutions.
We go back and forth [with the EF] All the time. We have the best relationship with them, but we are along their arm. I see all this as a very positive amount.
You can bring layer 2 networks. How are Wall Street see them? We know that Deutsche Bank launches a layer 2 on ZKsync, and UBS has also expressed interest in using the second layer technology. But what do you think of what I saw?
Raman: I think it will be very paradoxical when people look at the criticism of the Twos layer as an extracted and mitnous value. I think Wall Street looks at the double layer as an opportunity.
One of the many reasons I think Ethereum will win the other layer is that it has doubled on the Layer-2 road map and realized that the whole world does not belong to one uniform chain.
There are different companies, different countries and different countries. Everyone has their own culture. You can not put everything in one place with one set of rules.
Wall Street looks at this as an opportunity. Where is the place where you can achieve the largest amount of money that publishes assets and applications? It is on layer 2. In the application layer, you can control the customization level and privacy. On Layer 2, you can get node recognition features (KYC). All of these things will be very crucial.
Why did Wall Street hinder – was it just an organizational clarity aspect, which has now changed after there was a new administration in Washington?
Raman: I think organizational clarity is the correct answer, but it may be very simplified.
I think the real issue is that there was no economic incentive for Wall Street to use Blockchains already. Many of them looked at Blockchains as competing or threatening. There was no way to earn money using Blockchains, especially with a repressive regulatory system.
With the shift in regulations and technology expansion such as Layer-2S, Wall Street can now make a lot of money using Blockchains-especially on ETAREUM, by building layer 2 and running assets. They can earn a lot of money now, so they all rush. This is because they smell the opportunity.
Read more: Vitalik Buterin continues from Ethereum
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