The Ethereum Foundation is a paradox. Despite its commitment to decentralization, it operates as a centralized entity, with a director, treasury, paid developers and an inner circle. These structures, while necessary for coordination, create tension with Ethereum’s decentralized philosophy.
The Foundation today
It is not widely known, but the current foundation was built in a less than ideal manner. The previous director, Ming, was ousted in a coordinated effort by a group of people who were never publicly identified or held accountable. I spoke with Ming a few days before her dismissal and she assured me that she had no plans to leave. Later, I was given information about who was responsible for his expulsion, but it was not really clear why. I heard that Ming was a bit of a micromanager and had an intensity that rubbed some people the wrong way. I’m sure there’s some truth to this, but these stories are often a showcase of deeper truths.
I can infer some good faith reasons based on how the organization has been run over the past seven years. A very important role of the organization is to protect itself against internal power struggles as well as external capture. These are noble goals and they appear to have been achieved effectively.
Another major goal appears to have been to minimize the organization’s public footprint and build it in such a way that it would not attract the ire of governments who might hold them responsible if the political winds turned against them. But as the political winds change and the market offers alternatives, the organization itself must adapt, both in form and function.
At its birth, Ethereum was a visionary project, not simply technological in nature. It held out the possibility of a previously unimaginable future through the empowerment of the individual to accomplish what previously required billions of dollars, thousands of people, or millions of hours of work.
The Ethereum Foundation, in its current incarnation, designed to minimize internal and external threats, has lost this vision.
Lead with vision
The next phase of Ethereum requires more than just technical research and coordination conferences. This requires visionary leadership – someone who understands not only the technology but also its broader social, philosophical and political implications. This leader must inspire a new generation of builders, connect technology to human needs, and navigate the complexities of the political landscape without compromising Ethereum’s philosophy.
Read more: Sam Kessler – Ethereum’s Vitalik Buterin goes on the offensive amid major leadership shakeup
The Ethereum white paper was not just a technical document; it was a beacon that allowed like-minded people to come together around a common vision. In the face of chaos, uncertainty and frequent conflict, she served as a guide. What ensured our collective success was not the absence of challenges but the clarity of the summit to which we aspired. This shared vision allowed us to stay aligned even when disagreements and setbacks arose.
It was an idea whose time had come: a project that transcended the individuals behind it and inspired a community to persevere, innovate, and ultimately bring that vision to life. Without it, the project could easily have collapsed under the weight of its ambition.
Be transparent, focus more on the community
Transparency is just as essential. In recent years, the Foundation has retreated into the shadows, leaving the community disconnected. But Ethereum would have been nothing without its community, and it will be nothing if it loses it. A community must be managed, organized and cared for. This requires the integration of new people, with new energy and new ideas, linked by a common vision. This also includes teams that rely on Ethereum.
Seize the moment
From a legal perspective, Ethereum must take the opportunity to engage with lawmakers. The current American political climate is particularly favorable, and inaction now risks running out of steam. America elected a president who not only owns ether, but himself started a lending protocol on top of it. Right now, we live in a political landscape that was unthinkable just a year ago, when Democrats surprised many of us by openly declaring war on crypto, and the future seemed uncertain. There has never been a better time than now to ensure the promise of crypto is realized.
While maintaining political neutrality, the Foundation may create or promote frameworks that encourage compliance and innovation. Without these frameworks, the crypto space has been plagued by speculative ventures – ICOs, DAOs, NFTs – that skirt regulations rather than work within them to create 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, the Foundation could potentially manage governance, cash disbursements, decision-making processes, and community engagement.
This approach would not only demonstrate the capabilities of Ethereum, but also build trust within the community by embodying the principles of decentralization and transparency championed by the project. Additionally, leveraging Ethereum’s ecosystem for coordination 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 Foundation would highlight the platform’s real-world utility while setting a precedent for how decentralized systems can effectively manage complex organizations.
Be responsible, build the future
Finally, financial responsibility must become a priority.
With $100 million spent each year, the Foundation is expected to produce measurable results. Despite significant investments in technical research, the crypto user experience remains stagnant. Improving UX, UI, key management and other security and usability issues is not insurmountable but has been seriously neglected. This oversight reflects a blind spot that must be addressed before broader adoption is possible.
Ethereum began as more than just a technology project: it was a visionary movement aimed at empowering individuals to achieve what once required enormous resources. This vision risks being lost. To revive it, the Foundation must demonstrate transparency, invest in leadership, engage the community and place itself in 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 move from a reactive institution to a proactive visionary force. For Ethereum. For the community. For the greater good. For the future.
With Love,
Texture
