Vitalik Buterin at meeting in Russia: best statements

Vitalik Buterin at meeting in Skolkovo, Russia: here are some of Ethereum founder's statements
31 August 2017   764

On August 31st, Vitalik Buterin, the founder of Ethereum, hosted an "Open conversation with Vitalik Buterin" in Skolkovo techonopark in Russia.

Vitalik Buterin in Skolkovo, Russia, 2017 image credit: Elena Balbekova

Here is some of the most vivid statements made by a "crypto god".

Early years

  • Vitalik didn't much like it in the kindergarten. Everyone was sitting in a circle, while he was crawling. Sitting was too boring. 
  • When he was 6 y.o., Buterin knew 20 digits after the comma of the number pi (now knows 100) as he learned it by heart instead of Pushkin's poems.
  • Buterin's parents forced him to play the piano and the viola and track his trainings. Well, sometimes he lied.
  • His favourite subject in school was maths. 
  • Vitalik has always been into computers. Thus, he started with the excel and began to program the computer games for himself.

Bitcoin

  • For the first time Buterin heard about Bitcoin from his father. Vitalik thought that it was an interesting thing, a currency that was not controlled by any state. However, he decided that there was nothing interesting about it, as virtual numbers should not have any value. Vitalik speculated that this project would not go anywhere and forgot about it for a month.
  • Then Buterin finally decided to try to earn some Bitkoins. He found a man who paid him 5 Bitkoins for the articles for his blog. Thus, Buterin earned 20 Bitcoins and spent 8.2 of them on a T-shirt.

Ethereum

  • The idea of creating his own project came to Buterin bit by bit. The man realized that he spent 30 hours per week on Bitcoin projects. Thus, he decided to dedicate all his time to do it and left the university. He travelled around the world a lot.
  • The things began in Israel: there was the greatest community. People understood both maths and cryptography and they realized that the blockchain was not only for cryptocurrency, but also for other projects (digital assets, financial contracts, crowdfunding).
  • Thus, there were two projects in Israel concerning blockchain for other applications, but Buterin realized that their use was limited. That was the moment when he realized that you can make your blockchain with a built-in programming language. He made a whitepaper and distributed it among his friends.
  • According to Vitalik, he was the man who thought that this (Ethereum project) was impossible, as no one else had done it before and there had to be a reason for it. Ethereum founder was convinced of this for at least 2 months.
  • The first client to pay attention to the platform was IBM with its project Adept, who chose Ethereum platform.

...to be continued: fake death, the DAO, blockchain adaptation at the state level, Vladimir Putin. 

Wyoming Passed Bill Exempting Utility Tokens from Securities Laws

The Wyoming House of Representatives has unanimously approved a bill exempting utility tokens from securities laws  
20 February 2018   71

On Monday, House Bill (HB) 70 passed the House 60 to 0 and will now head to the Senate. The bill exempts utility tokens from securities laws. This will attracts ICO’s launches to the state and will make the state a favorable environment for blockchain startups.

According to the bill, the utility token must meet three conditions:

  1. The token’s issuer must not market it as an investment;

  2. The token must be exchangeable for goods and services, for example, startups must have a working product or service at the time the tokens are issued;

  3. The token’s issuer must not actively make efforts to create a secondary market for the token by entering into a repurchase agreement or agreeing to locate buyers for the token.

It is important to note that there are four more cryptocurrency and blockchain-related bills currently moving through the Wyoming legislature.

HB 19 passed the House of Representatives on Monday and is now awaiting introduction in the Senate. The bill exempts cryptocurrency from the state’s money transmitter act.

HB 101 has passed its second reading in the House and, if it passes its final hearing, will then go to the Senate. This bill will allow companies to create and use blockchains for the purpose of storing records and conducting inter-office communication.

HB 126 has just passed its second reading in the House. It will allow the creation of series LLCs.

Senate File (SF) 111 passed a vote to introduce on Friday and is now headed to a committee hearing. This bill will exempt cryptocurrency assets from state property taxes.