Latest Developments by Ethereum Co-founder Vitalik Buterin
The primary objective may be making the user experience of Ethereum better as more kinds of people start to use the platform for various purposes, transactions taking place on the Ethereum blockchain may range from ICO issuances through new ERC 20 tokens, decentralized applications, regular trades, send and receives that are being verified and more. An increase in transaction rate might correlate positively with an increase in the fees on the system followed by a decrease in the speed of processing of transactions as well, many aspects which draw the ire of their user base, from developers to ICO deployers to senders and receivers alike.
In addition to these primary objectives, and accepting titles from Forbes for being a prominent figure in the blockchain community, Buterin is pursuing secondary objectives that may support the gradual development of the overall blockchain community.
He has recently visited the country of Thailand to meet with their respective regulators on securities on a variety of matters, one of which is the important topic of Knowing your customer, an aspect that has been rather high priority for many a government, from the United States, to India to the Philippines, South Korea, and others in relation to the matter of cryptocurrencies.
Vitalik, Omisego & Ethereum
Vitalik and other prominent figures from platforms like OmiseGo convened to talk about the current nature of cryptocurrency exchanges and the deployment of Initial Coin Offerings with representatives from Thailand’s respective governing agency on securities.
It seems like it was a great meeting because the current chief executive officer of the Omise company noted on the popular social media platform, Twitter, that the meeting well.
The company Omise is partnering with Thailand’s Digital Affairs organization to form a better-computerized system of identification and processing of payments. If the project turns out to be a success, it would mean that there was a significant implementation of the blockchain, adding to its legitimacy and growth. Furthermore, the aspect of KYC may also be affected somewhat depending on the nature of the implementation.
OmiseGo is a blockchain project carried out by Omise (a self-dubbed payment gateway for Asia), which is seeking to unbank the banked with Ethereum. Omisego will seek to gain utilization in mainstream digital wallets, “enabling real time, peer to peer value exchange and payment services agnostically across jurisdictions and organizational silos, across both fiat money and cryptocurrency curries.”
Omisego, OMG, is highly respected in the marketplace due to the history of Omise, having a strong track record, great ambitions and its indirect affiliations with key level members of the Ethereum project.
Vitalik did note his interest in OMG, the Omisego token, due to its varying structure. According to Vitalik, It is staking token and not a medium of exchange token, has a clear valuation model (expected discounted future transaction fees minus node operation cost), requires running node to get returns, not passive income (so more legally defensible).
Furthermore, there has been a deeper collaboration between Omisego, Ethereum, Golem, Cosmos, Raiden, and others through the Ethereum Community fund which was launched in the first portion of February of this current year.
According to the chief executive officer of Omisego, the Ethereum Community Fund is a “unique, highly networked vehicle dedicated to the acceleration of infrastructure and decentralized application development.”