The Ethereum Foundation’s Strategic Objectives
The Ethereum Foundation (EF) has laid out its strategic ambitions, centered around two primary objectives. The foremost aim is to bolster the overall usage of Ethereum by ensuring that users gain tangible benefits from the blockchain’s distinctive features. Complementarily, the foundation seeks to fortify Ethereum’s resilience and decentralization by identifying vulnerabilities within its technological framework.
Criticism from the Cryptocurrency Sector
However, these goals have met with skepticism from the cryptocurrency sector. Pierre Rochard, who holds the position of Vice President of Research at Riot Platforms, voiced concerns regarding the practicality of the EF’s objectives. He argued that while increasing Ethereum’s usage and enhancing its decentralization and resilience are commendable ambitions, they may not contribute significantly to the value of Ether (ETH) itself.
Rochard pointed out that alternatives like wrapped Bitcoin (wBTC) and Tether (USDT) can achieve broader usage of Ethereum without necessarily boosting ETH’s market value. According to Rochard, the foundation’s proposed goals appear somewhat clichéd and lacking in depth.
Proposed Solutions
In a bid to improve the scenario, he suggested a more transformative route: an Initial Public Offering (IPO) on the NASDAQ stock exchange. This move, he believes, could enable the Ethereum Foundation to implement a treasury strategy for ETH using convertible bonds, potentially fostering more sustainable growth and investment effectiveness.
