The Ethereum Foundation is a paradox. Despite its commitment to decentralization, it operates as a centralized entity, with a director, a treasury, paid developers, and an inner circle. These structures, while necessary for coordination, create tensions with the decentralized spirit of Ethereum.
The Foundation today
It’s not well known, but the current foundation was built in a way that is not ideal. The previous director, Ming, was ousted in a coordinated effort by a group of people who have never been publicly identified or held accountable. I spoke to Ming days before her expulsion and she assured me that she had no intention of leaving. They later gave me information about who was responsible for his expulsion, but they didn’t give me much idea why. I heard that Ming was something of a micromanager and that he had an intensity that bothered some people. I’m sure there’s some truth to that, but these stories are often a showcase for deeper truths.
I can infer some good faith reasons based on the way the organization has been run over the past seven years. A very important role of the organization is to protect against internal power struggles and external capture. These are noble goals and they appear to have achieved them effectively.
Another important approach appears to have been to minimize the organization’s public footprint and build it in such a way that it would not draw the ire of governments that could hold them accountable if the political winds turned against them. But as the political winds shift and the market offers alternatives, the organization itself must adapt, both in form and function.
Ethereum was at its birth a visionary project, not simply technological in nature. It pointed toward the possibility of previously unimaginable futures through empowering the individual to do what had previously required billions of dollars, thousands of people, or millions of hours of work to achieve.
The Ethereum Foundation, in its current incarnation, designed to minimize both internal and external threats, has lost that vision.
Lead with vision
Ethereum’s next phase requires more than just technical research and coordination conferences. It 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 with human needs, and navigate the complexities of the political landscape without compromising the spirit of Ethereum.
Read more: Sam Kessler: Ethereum’s Vitalik Buterin goes on the offensive amid major leadership shakeup
The Ethereum whitepaper was not just a whitepaper; It was a beacon that allowed like-minded people to come together under a shared vision. In the face of chaos, uncertainty and frequent conflict, he served as a guide. What ensured our collective success was not the absence of challenges but the clarity of the mountaintop we were striving for. This common vision allowed us to stay aligned even when disagreements and setbacks arose.
It was an idea whose time had come: a plan that transcended the people behind it and inspired a community to persevere, innovate, and ultimately make that vision a reality. Without him, the project could have easily collapsed under the weight of its ambition.
Be transparent, focus more on the community
Transparency is equally critical. In recent years, the Foundation has retreated into the shadows, leaving the community feeling disconnected. But ethereum would have been nothing without its community, and it will be nothing if it loses it. A community must be managed, curated and cared for. It requires the incorporation of new people, with new energy and new ideas, united by a common vision. This also includes teams building on ethereum.
seize the moment
From a legal perspective, Ethereum should take advantage of the opportunity to engage with lawmakers. The current American political climate is exceptionally favorable and inaction now risks losing momentum. The United States has elected a president who not only owns ether, but has also launched a lending protocol. As of now, we live in a political landscape that was unthinkable even a year ago, when Democrats surprised many of us by openly declaring war on cryptocurrencies, and the future seemed uncertain. There has never been a better time than now to ensure that the promise of cryptocurrencies 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 companies (ICOs, DAOs, NFTs) that circumvent regulations instead of working within them to build 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, treasury disbursements, decision-making processes, and community engagement.
This approach would not only demonstrate the capabilities of Ethereum but also reinforce trust within the community by incorporating the principles of decentralization and transparency that the project advocates. Additionally, leveraging the Ethereum 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 also 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 annually, the Foundation should achieve measurable results. Despite significant investment in technical research, the user experience in crypto remains stagnant. Improving UX, UI, key management, and other security and usability issues is not insurmountable, but it has been severely 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 to empower people to achieve what previously required massive resources. That vision risks being lost. To revive it, the Foundation must embrace transparency, invest in leadership, engage the community, and be in the legal and political spotlight.
The story of Ethereum is one of a triumph over chaos and a testament to the power of collective vision. To ensure its future, the Ethereum Foundation must transform from a reactive institution to a proactive visionary force. For ethereum. For the community. For the greater good. For the future.
With love,
Texture
