Microsoft Research Economist: Ethereum and Blockchain are Great Tools For Next Recession

Glen Weyl, a researcher at Microsoft Research New York City, posted on Twitter his views of the blockchain industry, which were mainly positive. He tweeted about Vitalik Buterin and discussed that the blockchain industry may be a reliable tool in an upcoming recession. He wrote,

“It seems to me (but if someone has a counterexample please highlight) that the most serious organized and broad-based movement for a positive, forward-looking, liberal version of the future (w possible and overlapping exception of #RadicalxChange) is the blockchain movement.”

He also answered inquiries concerning the benefits of blockchain. In his response, Weyl stated that it isn’t a technical question, but one of a significant use case of ethereum and its future. He tweeted,

“It seems to me that in the same way, the “use case” of @ethereum is less any particular technical question and more offering a vision of the future that can save us from returning to the 1930’s next time we hit a recession. I wonder what @VitalikButerin thinks of that.”

Weyl also clarified that his favor toward Ethereum is not unlimited. A few of his criticisms included that the technology is anti-democratic and plutocratic. Further, the technology is not transformative.

On a few bright notes, he stated that the technology has brought people together on a global level. And mentioned,

“There is also the practice of decentralization in thought . . . there is no community I have visited where so many feel so empowered to challenge the views of the legitimacy of those who are more famous and prominent than them. Feels bit like French Revolution.”