Vitalik: The future of Ethereum is to create an independent open technology stack that can compete with companies like Google and Twitter

Odaily News Vitalik Buterin said at the Permissionless conference that encryption-based solutions have the potential to be more decentralized, privacy-preserving and secure than the current Web2 environment, citing building blocks such as ENS and POAP. Vitalik said that Ethereum dreams of truly creating an independent open technology stack that can compete with companies such as Google and Twitter. Vitalik envisions a step-by-step process for new Web3 users to create an Ethereum address, initially controlled by services like Gmail, but using account abstraction to allow people to take ownership when ready to use more crypto-native methods. Vitalik said theres an opportunity for people to come down the ladder of decentralization and actually end up in this completely independent stack where all the different parts can actually work together. (Blockworks)