In a heated online debate about the relevance of meme coins, Ethereum cofounder Vitalik Buterin outlined a compelling vision for the future of cryptocurrencies. The discussion began when a prominent crypto enthusiast expressed frustration with the meme coin hype and questioned its lasting value compared to recent major innovations in the space.

Some of the important advances in the crypto space listed included decentralized and tamper-proof money, peer-to-peer cross-border payments, programmable money, permissionless financial services and digital asset ownership.

Meanwhile, meme coins, while entertaining and a new way to monetize attention, lack the lasting and inspiring potential of previous crypto trends. This sentiment, concerned crypto enthusiasts claim, is draining the energy out of the crypto community.

Vitalik steps in

In response, the Ethereum founder outlined several areas where he sees crypto making a meaningful impact on everyday life and expanding its reach today. He mentioned the importance of zero-knowledge technology in improving reputation, identity and credentials, which could revolutionize digital interactions. 

Buterin also pointed to significant improvements in peer-to-peer cross-border payments, noting that lower fees and better user experiences are making these services more viable in this cycle.

In addition, Buterin highlighted the potential of decentralized social networks, which promise greater user control and privacy, and prediction markets, which are becoming more practical and accessible. He also mentioned enterprise applications via zk validiums and zk-powered censorship-resistant voting, both of which could transform industries and governance.