How can the Ethereum Foundation, which is beleaguered on all sides, save itself?

Author: Texture

Compiled by: Luffy, Foresight News

The Ethereum Foundation is a contradiction. Although it is committed to decentralization, it operates like a centralized entity, with a chairman, a treasury, paid developers, and an inner circle. While such an architecture is essential for coordinating work, it conflicts with Ethereum’s decentralized philosophy.

Current status of the foundation

Many people may not understand that the current way the Ethereum Foundation is established is not ideal. The former head, Ming, was ousted by a group of people whose identities were never made public and who never took responsibility for the incident. I spoke with Ming a few days before she was fired, and she revealed she had no plans to leave. I was later told who had been responsible for her removal, but not why. I've heard that Ming is a bit of a micromanager, and that her forceful style makes some people uncomfortable. I believe there is some truth in this, but these statements are often just superficial reasons, and there may be a deeper truth hidden behind them.

Based on the way the organization has been run over the past seven years, I can infer some good-faith reasons. An important responsibility of the organization is to prevent internal power struggles and control by external forces. These goals were lofty, and they seemed to be effective in achieving them.

Another major focus appears to be minimizing the group's public exposure and framing itself in a way that won't invite the wrath and accountability of governments if the political winds shift. But as the political winds shift and alternatives emerge, the organization itself must adapt in form and function.

Ethereum has been a visionary project since its inception, and its significance is not limited to the technical level. It points to previously unimaginable future possibilities by empowering individuals to achieve things that previously required billions of dollars, thousands of people, or millions of man-hours.

The current Ethereum Foundation, in order to minimize internal and external threats, has lost that vision.

Lead by vision

Ethereum’s next phase will require more than just technical research and coordination. It requires a visionary leader, someone who not only understands the technology but also its broader social, philosophical and political implications. This leader must inspire a new generation of builders, connect technology to human needs, and navigate complex political situations without violating Ethereum’s ideals.

The Ethereum white paper is more than just a technical document, it is more like a beacon that allows like-minded people to come together under a common vision. It serves as a guide in the face of chaos, uncertainty, and frequent conflict. What ensures our success together is not that there are no challenges, but that we clearly know where the mountain we are trying to climb is. This shared vision keeps us aligned even when disagreements and frustrations arise.

It’s an idea that emerges, a blueprint that transcends the individuals behind it, inspiring a community to persevere, innovate, and ultimately make this vision a reality. Without it, the project could easily collapse under the weight of its own ambitions.

Be transparent and focus more on the community

Transparency is also crucial. Over the past few years, the foundation has gradually receded into the background, leaving the community feeling disconnected from it. But without the community, Ethereum would be nothing; without the community, Ethereum would be meaningless. A community needs people to manage, nurture and care for it. It needs to bring in new people, inject new energy and ideas, and all be bound by a shared vision. This also includes teams developing on Ethereum.

Seize regulatory dividends

From a legal perspective, Ethereum must seize the opportunity to engage with lawmakers. The current political environment in the United States is extremely favorable. If we do not take action now, we may lose our development advantage. The elected President of the United States, Trump, not only holds Ethereum, but also launched a lending protocol on Ethereum. Just a year ago, Democrats declared war on cryptocurrencies and the future looked uncertain, and now we find ourselves in a political landscape that was simply unimaginable at the time. Now is the best time to ensure that cryptocurrencies live up to their promise.

While remaining politically neutral, foundations can create or promote frameworks that encourage compliance and innovation. Without these frameworks, the cryptocurrency space would be flooded with speculative projects: Initial Coin Offerings (ICOs), Decentralized Autonomous Organizations (DAOs), Non-Fungible Tokens (NFTs), etc., all of which evade regulation. , rather than building sustainable application scenarios within the regulatory scope.

Lead by example and use technology to manage yourself

The Ethereum Foundation should also consider leveraging its own technology to coordinate operations and demonstrate the transformative potential of decentralized systems. By adopting Ethereum-based tools and protocols, it is possible for foundations to manage matters such as governance, treasury spending, decision-making processes, and community engagement.

This approach not only showcases Ethereum’s capabilities but also enhances trust within the community by living up to the principles of decentralization and transparency that the project advocates. Additionally, leveraging the Ethereum ecosystem for coordination can serve as a real-world example to inspire developers and other organizations to explore similar solutions. By integrating its own technology into its operations, the Foundation can both highlight the platform's real-world utility and set a precedent for how decentralized systems can effectively manage complex organizations.

Take responsibility and build the future

Finally, financial accountability must be a top priority.

With annual expenditures of $100 million, the foundation is supposed to deliver measurable results. Despite huge investments in technological research, cryptocurrency user experience has stagnated. Improving user experience, user interface, key management, and other security and usability issues are not insurmountable, but have been severely neglected. This oversight reflects a blind spot that must be addressed before Ethereum can achieve wider adoption.

Ethereum has been more than a technology project from the beginning, it is a visionary movement aimed at empowering individuals to achieve things that once required vast resources. Today, that vision is at risk of disappearing. To rekindle this vision, foundations must uphold transparency, focus on leadership development, actively engage with communities, and shine at the legal and political levels.

The story of Ethereum is a chapter of 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 driving force. For Ethereum, for the community, for the greater good, and for the future.