Wintermute CEO Evgeny Gaevoy recently shared his thoughts on the future of Ethereum (ETH), stating that if ETH fails, it won't be because “Solana is faster.”
Instead, he believes the failure will come from the Ethereum “elite” being left in deep conflict.
Gaevoy noted that blockchain technology is impressively suited to creating entirely capitalist incentive-based systems. However, he suggested that many influential figures in the Ethereum community, including Vitalik Buterin and Hayden Adams, are trying to “fix capitalism.”
These people argue that the dignity of what they create depends on “whether the goal is worthwhile,” citing healthcare, open source software, art, and other socially beneficial outcomes as worthy ends, according to Gaevoy.
Gaevoy also stated that these people believed that “the best entrepreneurs in the field are motivated by positive social change” and argued that there was a paradox:
“You will either establish capitalism or planned socialism. “I'm sorry, but you can't have it both ways.”
Gaevoy states that it is a paradox to try to combine these two fundamentally different economic systems on the same platform.
*This is not investment advice.