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According to Forbes recent article, Ethereum’s 27-year-old co-founder, Vitalik Buterin, has reclaimed the title of the world’s youngest crypto billionaire thanks to ether’s latest gains. Forbes estimates his total wealth at $1.46 billion.

At the recent Singapore FinTech Festival 2021, he had a conversation with Raoul Pal, Co-Founder and Chief Executive Officer of Real Vision and this is an excerpt of what he has to say on how countries like Singapore should think through the revolution and explosion of cryptocurrencies, DeFi, NFT‘s, Web 3.0 and the metaverse.

According to him, Singapore should be supportive of good projects that are happening locally. As a financial hub, the country should think of what they could do to make it easier for people to carry out such projects i.e. crypto projects that incorporate some form of institutional trust, and how can they can better serve as trust anchors.

He commented that it is important to look from the users’ point of view as well to determine what are specific applications that could be valuable and make lots of sense, such as use cases like NFT’s, DAOs or something for fractionalized real estate ownership in Singapore.

Some examples from him include local artists who might want to use NFT’s as a way of getting revenue, possibly like DAOs that might be funding art or cultural works of different kinds. He concluded that it’s good to look at that kind of application by application and see what’s worth doing while finding out the best ways to maximise the upsides and to minimise the downsides of the projects.

“In general, I’m optimistic that there are lots of things that can be done”