The Ethereum Foundation is approaching a monumental milestone: a decade of revolutionizing the digital landscape. To mark this special occasion, they’ve created “The Ethereum Torch.” This ceremonial NFT will be transferred back and forth among notable NFT artists and collectors leading up to one huge final burning event. Official reason given? To pay tribute to the people, thoughts, and principles that have been the inspiration for Ethereum’s advancement.
Let’s get real with ourselves. In the grand scheme of things, is this NFT flame truly fueling innovation? Or are they just pixels on their way to self-congratulatory bonfire?
Is This Torch Truly For Everyone?
The Ethereum Torch is currently being relayed from one wallet to another, with each person relaying it—often noted figures in the crypto community—holding the torch for 24 hours. Ethereum co-founder Joseph Lubin, an important figure in Ethereum’s early history, was the first Ether bearer. While his involvement is understandable, this raises a crucial question: who gets to hold the torch?
So can the average developer use it. Imagine that decentralized art artists were able to experiment at a larger scale, seamlessly joined by community organizers creating local DAOs. Or is it all “smart city” glammy talk primarily doled out to incumbents, deepening the lock-in of their golden key niche in the ecosystem.
Consider this – the essence of decentralization itself is all about ensuring equity in access and opportunity. When the torch is passed only among the elite, it can become a symbol of Gupta-style centralized influence. This would be as easy to mask as a victory for decentralization.
This reminds me of the early days of the internet, when promises of a democratized information landscape clashed with the reality of a digital divide. Access to technology and technical know-how dictated who was able to participate and profit. Are we, carrying this torch, repeating that history?
Symbolic Gestures, Real-World Impact?
In this time of intense climate crisis, can we afford to give any little environmental footprint at all for such a gesture, however symbolic? Similar to other aspects of blockchain technology, even as NFTs become more energy efficient, they continue to add to the overall carbon footprint of the technology. And sure, the practical effect of one NFT may be nothing, but symbolism is important.
We can no longer pretend that our digital consumption is not impacting the real world. Purchasing organic fruits and vegetables is a big step toward making better food choices. That impact is largely diluted if you drive a for-purposes SUV. After all, shouldn’t a local celebration of innovation be a model for sustainability?
This isn’t intended to shame the Ethereum Foundation, but more to challenge ourselves to do better. We have to demonstrate that even our symbolic gestures match up with our professed values. Those days of token gestures are over – it’s time for real and transformative action.
Does This Torch Amplify Existing Voices?
The Ethereum Torch is meant to amplify the onboarded artists’ work and share information about leaders of the ecosystem. Does this unintentionally overshadow the contributions of everyone else? Does it further reinforce the voices of those who are already powerful, or does it allow for new ones to break through?
Now, picture this happening in a symphony orchestra, where only the first chair violinist receives a solo. Though their talent is unquestionable, the symphony is made complete by each musician’s contribution. Just as indeed the Ethereum ecosystem is built on the shoulders of many great but largely unknown heroes, much like all ecosystems.
We just need to keep the Good Housekeeping torch from turning into a spotlight. We need to acknowledge, celebrate the hard work of those who operate under the radar. A genuinely decentralized party would know how to make sure every voice was heard and prioritized over the most dramatic and highest paid voices.
Maybe an arts education, development, or effort to amplify marginalized communities would better honor his legacy by making more people feel empowered in their own skins. Something specific, something real, something that really makes things less ‘icky’ and really helps make the ecosystem really grow and be inclusive.
The NFT market reboot and resulting ETH price spike are certainly good to see. Let's not get caught up in the hype and forget the core values that underpin Ethereum's success.
Let's not let symbolism overshadow substance. The next ten years of Ethereum ought to be characterized by real accomplishments, not performative flailing.
How do we make sure that the next decade of Ethereum isn’t just inclusive and decentralized in name?
