How can the Ethereum Foundation, surrounded by difficulties, save itself?

Author: Texture

Compiled by: Luffy, Foresight News

The Ethereum Foundation is a contradiction. While it is committed to decentralization, its operational model resembles that of a centralized entity, with a chairperson, a treasury, paid developers, and a core circle. Although such a structure is essential for coordinating work, it conflicts with the decentralized ethos of Ethereum.

Current State of the Foundation

Many may not realize that the current formation of the Ethereum Foundation is far from ideal. The former leader, Ming, was ousted by a group of individuals whose identities were never disclosed and who were not held accountable for the matter. A few days before Ming was dismissed, I spoke with her, and she revealed that she had no intention of leaving. Later, someone informed me who led her dismissal, but did not explain the reasons. I heard that Ming was quite hands-on, and her strong personality made some uncomfortable. I believe there is some truth to this, but these claims often serve as superficial reasons, hiding deeper truths behind them.

Based on the organization's operational methods over the past seven years, I can infer some benevolent reasons. One of the organization's key responsibilities is to prevent internal power struggles and external control. These goals are noble, and they seem to have effectively achieved them.

Another major focus appears to be minimizing the organization's exposure to the public and constructing itself in a way that would not provoke government anger and accountability when political winds shift. However, with changing political climates and the emergence of alternative solutions in the market, the organization itself must adjust in both form and function.

Ethereum has been a visionary project since its inception, with significance that extends beyond the technical realm. By empowering individuals to accomplish what previously required billions of dollars, thousands of people, or millions of hours of work, it points to a future possibility that was once unimaginable.

Currently, the Ethereum Foundation has lost that vision in its efforts to minimize internal and external threats.

Leading with Vision

The next phase of Ethereum requires more than just technical research and coordination. It needs visionary leaders who not only understand technology but also grasp its broader social, philosophical, and political implications. This leader must inspire a new generation of builders to connect technology with human needs and navigate complex political landscapes without compromising Ethereum's principles.

The Ethereum white paper is not merely a technical document; it serves as a lighthouse, bringing like-minded individuals together under a shared vision. In the face of chaos, uncertainty, and frequent conflicts, it provides direction. What ensures our collective success is not the absence of challenges, but our clear understanding of the peaks we strive to climb. This shared vision allows us to remain united even in the face of disagreements and setbacks.

This is a concept that has emerged in response to the times, a blueprint that transcends individual interests, inspiring a community to persevere, innovate, and ultimately realize this vision. Without it, the project could easily collapse under the weight of its own ambitions.

Maintaining Transparency and Focusing on Community

Transparency is equally crucial. Over the past few years, the foundation has gradually retreated behind the scenes, leaving the community feeling disconnected from it. However, without the community, Ethereum would achieve nothing; losing the community would render Ethereum meaningless. A community needs management, nurturing, and care. It must attract newcomers, infusing new energy and ideas, all bound by a shared vision. This includes teams developing on Ethereum.

Seizing Regulatory Opportunities

From a legal standpoint, Ethereum must seize opportunities to engage with lawmakers. The current political environment in the U.S. is particularly favorable; failing to act now could result in lost advantages. The elected president, Trump, not only holds Ethereum but has also launched a lending protocol on it. Just a year ago, the Democratic Party openly declared war on cryptocurrencies, and the future looks uncertain, while the current political landscape was unimaginable at that time. Now is the best time to ensure that cryptocurrencies fulfill their promises.

While maintaining political neutrality, the foundation can create or promote frameworks that encourage compliance and innovation. Without these frameworks, the cryptocurrency space will be filled with speculative projects: Initial Coin Offerings (ICOs), Decentralized Autonomous Organizations (DAOs), Non-Fungible Tokens (NFTs), etc., all evading regulation rather than building sustainable applications within regulatory boundaries.

Leading by Example and Self-Managing with Technology

The Ethereum Foundation should also consider leveraging its own technology to coordinate operations, showcasing the transformative potential of decentralized systems. By adopting Ethereum-based tools and protocols, the foundation could manage governance, treasury expenditures, decision-making processes, and community engagement.

This approach would not only demonstrate Ethereum's capabilities but also enhance trust within the community by practicing the principles of decentralization and transparency that the project advocates. Additionally, coordinating using the Ethereum ecosystem could serve as a real-world case study, inspiring developers and other organizations to explore similar solutions. By integrating its own technology into operations, the foundation can highlight the platform's practicality in the real world and set a precedent for how decentralized systems can effectively manage complex organizations.

Taking Responsibility and Building the Future

Finally, financial accountability must become a top priority.

With annual expenditures of $100 million, the foundation should deliver measurable results. Despite significant investments in technical research, the user experience in cryptocurrency has stagnated. Improving user experience, user interfaces, key management, and other security and usability issues is not insurmountable, yet these areas have been severely neglected. This oversight reflects a blind spot that must be addressed; otherwise, Ethereum will struggle to achieve broader adoption.

From the outset, Ethereum has been more than just a technical project; it is a visionary movement aimed at empowering individuals to achieve what once required vast resources. Today, this vision is at risk of fading away. To reignite this vision, the foundation must uphold principles of transparency, focus on leadership development, actively engage with the community, and emerge prominently in legal and political arenas.

The story of Ethereum is a triumphant narrative of overcoming chaos and a powerful testament to the strength of collective vision. To ensure its future, the Ethereum Foundation must transform from a passive responding entity into a proactive, visionary driving force. For Ethereum, for the community, for the greater good, and for the future.