The Ethereum Foundation is a paradox. Despite its commitment to decentralization, it operates as a centralized entity, with a manager, treasury, paid developers, and an inner circle. Although these structures are essential for coordination, they create tensions with Ethereum’s decentralized ethos.
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It is not widely known, but the current foundation was constructed in a less than ideal manner. The previous director, Meng, was ousted in a coordinated effort by a group of people who were never publicly identified or held accountable for it. I spoke with Meng days before her dismissal and she assured me that she had no intention of leaving. I was later given information about who was responsible for removing it, but not much information about why. I had heard that Ming was a bit of a micromanager, and that she had a power that made some people fool them. I’m sure there’s truth to that, but these stories often serve as a façade for deeper truths.
I can infer some good faith reasons based on the way the organization has been run over the past seven years. One very important role of the organization is to protect against internal power struggles as well as external takeover. These are lofty goals and they seem to have achieved them effectively.
Another major focus appears to have been to reduce the organization’s public footprint and build it in a way that would not incur the wrath of governments that might hold them accountable if the political winds moved against them. But as political winds change and the market provides alternatives, the organization itself must adapt, both in form and function.
From its birth, Ethereum was an ideal project, not just technological in nature. He pointed out the possibility of achieving a future that was previously unimaginable by enabling the individual to do what previously required billions of dollars, thousands of people, or millions of working hours to accomplish.
The Ethereum Foundation, in its current incarnation, which was designed to minimize internal and external threats, has lost that vision.
Leadership with vision
The next phase of Ethereum requires more than just technical research and conference coordination. It requires visionary leadership – someone who not only understands technology, but its broader social, philosophical and political implications. This leader must inspire a new generation of builders, connect technology with human needs, and navigate the complexities of the political landscape without compromising the spirit of Ethereum.
Read more: Sam Kessler – Ethereum’s Vitalik Buterin continues to attack amid major leadership change
The Ethereum whitepaper was not just a technical document; It was a beacon that allowed like-minded people to come together under a common vision. In the face of chaos, uncertainty and recurring conflicts, he has been a guiding light. What ensured our collective success was not the absence of challenges, but the clarity of the mountaintop we were striving to achieve. This shared vision has allowed us to remain aligned even when disagreements and setbacks arise.
It was an idea whose time had come, a plan that transcended the individuals behind it and inspired the community to persevere, innovate, and ultimately realize this vision. Without this, the project could easily have collapsed under the weight of its ambitions.
Be transparent, and focus more on the community
Transparency is equally crucial. Over the past few years, the institution has retreated into the shadows, leaving the community feeling disconnected. But Ethereum would be nothing without its community, and it would be nothing if it were missing. Society must be managed, nurtured and cared for. It requires training new people, new energy, and new ideas, linked to a common vision. This also includes teams that rely on Ethereum.
Seize the moment
From a legal perspective, Ethereum should seize the opportunity to engage with lawmakers. The current American political climate is uniquely favorable, and inaction now threatens to lose momentum. America has elected a president who not only owns ether, but has personally launched a lending protocol on top of it. As of now, we live in a political landscape that was unimaginable even a year ago, when Democrats surprised many of us by publicly declaring war on cryptocurrencies, and the future seemed uncertain. There has never been a better time to ensure the promise of cryptocurrencies is realized.
While remaining politically neutral, the organization can create or strengthen frameworks that encourage compliance and innovation. Without these frameworks, the cryptocurrency space has been plagued by speculative projects — ICOs, DAOs, NFTs — that skirt regulations instead of working within them to build sustainable use cases.
Lead by example
The Ethereum Foundation should also consider using its own technology to coordinate its operations and demonstrate the transformative potential of decentralized systems. By adopting Ethereum-based tools and protocols, an organization can manage governance, treasury payments, decision-making processes, and community engagement.
This approach will not only showcase Ethereum’s capabilities, but will also foster trust within the community by embodying the principles of decentralization and transparency that the project champions. Additionally, leveraging Ethereum’s ecosystem for orchestration could serve as a real-world case study, inspiring developers and organizations to explore similar solutions. By integrating its technology into its own operations, the organization will highlight the platform’s real-world utility while setting a precedent for how decentralized systems can effectively manage complex organizations.
Be responsible and build the future
Finally, financial accountability must become a priority.
With $100 million spent annually, the organization must achieve measurable results. Despite significant investment in technical research, the user experience in the cryptocurrency space remains stagnant. Improving user experience, UI, key management, security and other usability issues are not insurmountable but have been severely neglected. This censorship reflects a blind spot that must be addressed before it can be adopted on a broader scale.
Ethereum began as more than just a technology project, but rather a visionary movement to empower individuals to achieve what previously required enormous resources. This vision is in danger of being lost. To reignite it, the organization must embrace transparency, invest in leadership, engage the community, and step into the legal and political spotlight.
The story of Ethereum is one of triumph over chaos, and a testament to the power of collective vision. To secure its future, the Ethereum Foundation must transform itself from a reactive organization into a forward-looking force. For Ethereum. For the community. For the common good. For the future.
with love,
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