Renowned economist Tyler Cowen has proposed Ethereum ETH/USD creator Vitalik Buterin as a deserving candidate for the forthcoming Nobel Prize in Economics.
What Happened: Cowen put forward this unconventional nomination during a podcast with fellow economist Alex Tabarrok on Tuesday.
He lauded Buterin for his significant contributions to cryptocurrency’s monetary economics, stressing that his work far exceeded that of any other economist.
“Vitalik built a platform, created a currency, you could say, refuted Mises' regression theorem in the process, obviously following in the footsteps of Satoshi (Nakamoto), but my goodness, what does someone have to do to get a Nobel Prize?” Tyler remarked.
The two economists also applauded Buterin’s efforts in transitioning the network from proof-of-work to proof-of-stake without disrupting its operations.
“You ever seen those videos of these guys in Saudi Arabia where they change the car tires while the car is moving? That's what Ethereum did. Incredible,” Tabbarok said.
Furthermore, Cowen underscored Buterin’s personality, describing him as “super polite” and someone who would be “wonderful at the ceremony.” He also acknowledged Buterin’s philanthropic endeavors.
Why It Matters: Buterin co-created Ethereum—a network designed to support the development of decentralized apps and financial applications—in December 2013, a marked improvement from the rather primitive capabilities of Bitcoin BTC/USD, the world’s first blockchain project.
As of this writing, Ethereum was the biggest chain in terms of total value locked, sitting on deposits worth more than $44 billion. The native cryptocurrency powering the network, ETH, was worth more than $293 billion in market valuation.
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, popularly called the Economics Nobel, will be declared on Oct. 14.
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