Ethereum faces an identity crisis. His native token, ether (eth), is underperform Against competitors, and longtime manufacturers are starting to wonder if channel technology is late – and its community loses to focus.
The Ethereum Foundation, the non -profit organization that generates the development of Ethereum, has been blamed for many network difficulties. The co-founder Vitalik Buterin is the spearhead of a massive upheaval of leadership in the organization, but its central influence on the process triggered its own controversy.
Meanwhile, rival ecosystems like Solana capitalize on uncertainty, attracting the best talents and exceeding ETH on the market.
In the middle of this turbulence, a new project, Ethealalize, aims to bring ETH to Wall Street. Founded by the former Banker Vivek Raman, Etherealize seeks to fill the gap between traditional finance and Ethereum, positioning ETH as a serious class of assets.
Raman, who spent a decade in banking services before discovering the crypto, thinks that his experience in traditional finance gives him a unique perspective. He has spent the last four years laying the foundations for the etherealize, choosing to launch in January – a period of increased market in the market motivated by the expectations of a friendly crypto white house, even if Ethereum has grapples with internal litigation and price stagnation.
In a recent interview with Coindesk, Raman discussed his vision of the ETH and the wider cryptography landscape, in particular:
• His journey to Ethereum and the foundation of the etherealize.
• How the etherealize markets ETH in Wall Street.
• The role of the Ethereum Foundation and the views of banks on layer 2 rolls.
This interview was modified by Brevity and Clarity.
You have had all this experience in traditional finance and your name is a newcomer to the Ethereum world. Browse me how you entered the crypto, what was this moment?
Raman: I was a merchant of four banks, merchanting the most archaic esoteric products – high performance bonds, difficulties in difficulty, leverage loans and discussions and things default from credit. These are all the backbone of the economy, but I saw how ineffective they are.
When you watch the film Wall StreetAnd you see everything that has exchanged on the phone, you say to yourself: “Oh, maybe the system is upgraded”, but this is not the case. He always exchanges like that.
I saw it for 10 years. I lived it. And I am very lucky because I built a very good network, I have all these incredible mentors, all these people who run banks and run offices.
But after 10 years, the technological rhythm of Wall Street did not evolve at all, and I said to myself: “Let me find something else.”
Just when I left Wall Street, I went to Austin, Texas, and I have met some of the basic developers Ethereum from the research and development team. They worked on the merger and they taught me on Ethereum.
While I was in Wall Street, it was very anti-Crypto because of the regulators. The “time of adoption” was not even close for the 10 years that I was there. But when I found Ethereum, I realized that it was the answer to Wall Street.
There are different components to etherealize, right? Where does the “marketing” part arrive?
Raman: It is therefore three interdependent things.
The first thing is that everyone uses Ethereum; Ethereum is the most adopted intelligent contract platform. Bitcoins simply talk about Bitcoins – probably because there is not much use, so all you can do is talk about it.
It’s almost like with Ethereum, there is so much use that nobody really talks about ETH’s assets. But the asset is very important for the ecosystem; For the better or for the worst, people use the assets as an indicator of the health of the ecosystem. Part of the reason for which I think Solana has so many projectors is not because it is necessarily the best technology; This is because the token has increased a lot.
The first thing is therefore to speak of Ether as an asset – as a portfolio diversifier, as something that is complementary to Bitcoin – and to provide this content, research and marketing to ETF transmitters, to the wider and audience to institutions.
The second is that Ethereum is obviously a utility platform. It is this new financial internet; They call it “the operating system for the financial economy”. So we teach Ethereum as a platform and what you can do with it: you can token the active ingredients. You can create layer 2 ecosystems, where banks can actually have their own networks and can personalize them to bring their customers to the channel.
And then, thirdly, we actually try to call for action. The call for action is to tokensinate assets on Ethereum or to build a layer 2 on Ethereum, and we build a series of products to really facilitate Wall Street trading on the Ethereum blockchain.
Ethereum is experiencing an identity crisis. Its price is far behind the other cryptocurrencies, the Ethereum Foundation undergoes an upheaval and the members of the cryptographic community express their disagreements on the central role of Vitalik Buterin in the ecosystem. Ethealalize materializes at a time when the ecosystem probably needs a marketing or plea arm. Is Wall Street the Savior for Ethereum?
Raman: I don’t think it’s a trickery solution. The Ethereum Foundation should not have everything, and Vitalik should not have everything. Research and development – and high -level cutting -edge strategy and the roadmap in Ethereum at the test of the future for the next 100 years – is Vitalik’s work.
What role is it to talk about these ecosystems? This is the application layer. These are institutions such as etherealize.
The problem is that once the Overton window has gone from regulatory attacks to regulatory acceptance, other layer 1 ecosystems, which have very centralized and planned companies centrally behind them, have taken a share of mind And a marketing market share. But in the end, the best of the best is Vitalik – the best of the best is EF researchers.
I spent years developing this business plan, determining when the right time for strike was. I received a disconnection from Vitalik and EF – they gave us a small grant to make us start last August. But I did a lot of reasonable diligence. I questioned many institutions and asked if it was the time. And it was.
You have discussed the role of the Ethereum Foundation (EF). Some believe that the foundation is responsible for managing the ecosystem. How do you divide the roles between EF and etherealize?
Raman: EF has great marketing people – there is just a lot to do.
We have all this layer-2 ecosystem that require coordination. One of the people of the leadership of the Ethereum Foundation always says: “Ethereum does not have a commercial development arm, it has thousands of weapons of commercial development”, which are all applications, layer 2, etc.
We are here to act as a conduit for all the different applications and both layers. And we have access to people who really want to use Ethereum: Wall Street players and institutions.
We go and come [with the EF] All the time. We have the best relationship with them, but we are the length of the arms. I consider all this as a very positive sum.
You raise layer networks. How does Wall Street consider them? We know that Deutsche Bank is launching a layer 2 on ZKSYNC, and UBS also expressed its interest in using layer 2 technology. But what is their opinion of what you saw?
Raman: I think it will be very ironic when people come back to criticism for both layers as being extractive and dilutive. I think Wall Street considers layer two as an opportunity.
One of the many reasons why I think Ethereum will win on other layers-1 is because it has doubled on the road 2 roadmap and realized that the whole world does not belong to a uniform chain.
There are different companies, different countries and different states. Everyone has their own culture. You cannot stuff everything in one place with a set of rules.
Wall Street considers this as an opportunity. Where is the place where you can earn the most money in deployment of assets and applications? It is on layer 2. In terms of application, you can control your level of personalization and confidentiality. On layer 2, you can have knowledge of your customer’s knowledge (KYC). All this will be extremely critical.
Why was Wall Street-was it really only the aspect of regulatory clarity, which has now changed that there is a new administration in Washington?
Raman: I think that regulatory clarity is the right answer, but maybe it’s a little too simplistic.
I think the real problem is that there was no economic incentive for Wall Street institutions to really use blockchains. Many of them considered blockchains as competing or threatening. There was no way to make money using blockchains, especially with an oppressive regulatory diet.
With the change in regulation and the expansion of technology such as layers-2, Wall Street can now earn a lot of money using block channels, especially on Ethereum, building the layer-2 and performing assets . They can earn a lot of money now, and so they all rush. It is because they feel the opportunity.
Read more: Vitalik Buterin d’Ethereum is in an offense in the middle of a major upheaval
