It should be noted that the creator of Etherium is an active participant in the blockchain community. Vitalik Buterin regularly shares ideas on how the digital asset industry can be improved and further developed.


For example, in early March, the developer shared his own problematic experiences with cryptocurrencies, which have arisen over the years. Vitalik once had to pay for drinks at a coffee shop at about three times the required amount. The reason for this was the use of a cryptocurrency wallet, the minimum deposit amount for which was 0.01 ETH.

Also, Buterin stressed the importance of wallets with a detailed interface that would specify all the necessary details of transactions and other interactions with the blockchain. According to Vitalik, this component is even more important than exquisite design.


Back in March, Vitalik voiced recommendations for proper storage of large amounts of cryptocurrencies. Buterin is a proponent of using so-called custodians, which hold part of the cipher for the social recovery of the user’s wallet. In such a case, the developer recommends choosing strangers for the role of custodians, as this will avoid the possibility of collusion.

What are the benefits of blockchain

Vitalik Buterin believes that the essence of blockchain technology is about interaction and coordination between different groups of people. Here is his quote on the subject, published by the news outlet Cointelegraph.

Blockchain is about helping different groups of people to trust each other more and collaborate over long distances on different projects.


Note that digital assets do make it easier for people to interact. First of all, lower fees for sending value with almost instant transactions come to mind here.

In addition, in the blockchain world, there are so-called decentralised autonomous organisations (DAOs), which allow strangers to interact with one another and work on common tasks. Such projects use tokens to make decisions, allowing further goals to be set and achieved. Many blockchain platforms work precisely on the basis of DAO or simply have similar organisations within the project.


Here is the full recording of the conversation between Vitalik Buterin and Sadhguru. We recommend watching it if you want to better understand the participants’ point of view and go deeper into the subject of blockchain philosophy.

As the conversation continued, the participants noted the growing mismatch between the pace of technological evolution and the development of human consciousness. According to Sadhguru, much of this is due to the human need to identify with the group. Yogi said this need is about self-identity, which means it gives way to the mind “protecting and defending the identity” of that group.

However, Buterin stressed that new emerging technologies are actually making it easier for people to connect with each other on a common basis. Here’s his rejoinder.

At the end of the day, every technology is a social phenomenon to some degree. They’re tools that help groups of people organise themselves. They use them to find shared values.

According to Vitalik, new technologies will not solve all the problems of their users, but disagreements and partnerships in this arena could potentially lead to a new round of societal development globally. In other words, the emergence and evolution of blockchains can be compared to the popularisation of social media – a couple of decades ago, they really started to transform the way people interact.

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As new technologies continue to take the lead in people’s lives around the world, Sadhguru urged the panelists to remember that humans are themselves “the ultimate in technology”. Here is his rejoinder.

Technology is not just something that humans create. They are an extension of our consciousness. When we raise our level of consciousness, our technology automatically follows.

Both speakers agreed that the proper use of blockchain-type technologies is key to using them as a tool for greater understanding and increasing human consciousness.


We believe that such an approach to evaluating blockchain and its prospects requires a deep understanding of what is going on. Despite this, both interviewees shared a positive perception of decentralised distributed ledger technology. This is broadly in line with what is happening around the world, with many jurisdictions gradually introducing regulation for digital assets and the networks underpinning them. The most recent such example is the MiCA bill in the EU, which will definitely benefit the popularisation of crypto globally.


What do you think about it? Share your opinion in our cryptochat ex-wealthy. There waiting for the new bullrun to come, which is sure to happen.