We launched a new service for financial institutions, organizations, governments, and multi-laterals, in the form of a workshop that tries to hold the hand of non-crypto bros or crypto think boys. This will explain what Ethereum is, why it’s so important, and ergo why staking is significant. Clients can stake Ethereum on Eth2.0 using Prysmatic Beacon nodes and Validator nodes through different products in AWS Marketplace.
Whilst we are Ethereum focused we also know a lot about other Proof of Stake chains. If clients are interested we can show them what they do and how they work. For engineering teams, we want to help them deploy nodes in the workshop and give them a sense of the time it takes. We can take a closer look at nodes to sync. After that, we see how you harden them in the different cloud and noncloud planes. The outcome of participation should be some Ethereum and PoS knowledge bombs. That allows a conversation to start inside an organization about how and where this new paradigm can be used.
David Z Morris made me laugh in his analogy of the global economy being represented in The Dark Knight Rises, with Batman playing the role of the IMF. I have in the past expressed frustration at the inability of the IMF Washington consensus crew to not acknowledge crypto as simply a new tool. That improves “money functionality”. That will have unintended consequences both good and bad and just start building.
However, I think one needs to look at the IMF, not in the context of The Dark Knight Rises and Batman but rather Krishna (IMF) in his role as a charioteer in the Bhagavad Gita. Krishna counsels Arjuna (political global economy) to “fulfill his warrior duty to uphold the Dharma through selfless action.” Formed in 1944 the IMF sees its role to foster global monetary cooperation, secure financial stability, facilitate international trade. Promote high employment and sustainable economic growth, and reduce poverty around the world. The biggest stakeholders in the global financial system ride in its chariot. They are not looking to uphold Dharma through selfless action. Rather they want to do everything they can to maintain the status quo. They are dressed up as let’s do “CBDC’s” and “Ethereum and Bitcoin are dodgy but blockchains are important” etc.
Whilst everyone is moaning about fees, the Ethereum network now has 1.34 million addresses with at least 1 ETH. This new all-time high is accompanied by a rise in the number of unique addresses. I understand the fee pain but give it time and it will improve. The quality and thought that goes into the day-to-day work of the Ethereum core dev team is huge, and it is why Ethereum is so useful for so many. This is not talked about as much as the price. I don’t know if that will change, but there are lots of reasons to be hopeful.