Vitalik Buterin Nominated to Nobel Prize in Economic Science
By TH3FUS3 Editorial Staff
October 10, 2024 10:19 AM
Reading time: 1 minute, 43 seconds
TL;DR Two economists recently discussed the potential for Ethereum's co-founder, Vitalik Buterin, to receive the Nobel Prize in Economic Science. They highlighted his contributions to the crypto world and noted the growing interest of economists in this field.
Unconventional Predictions
Prominent economists Tyler Cowen and Alex Tabbarok stirred the waters of the economic community with their latest podcast discussion on The Marginal Revolution Podcast, during which they spoke of the Nobel Prize in Economic Science.
The two economists presented a fresh and bold perspective by suggesting Vitalik Buterin, the co-founder of Ethereum, as a candidate for the Nobel Prize.
Contributions to Crypto
Cowen's reasoning behind nominating Buterin is rooted in his significant contributions to cryptocurrency. He argues that Buterin's work is a monumental achievement in monetary economics.
"Vitalik built a platform, created a currency," Cowen emphasized, challenging the boundaries of what constitutes a Nobel-worthy contribution.
He further remarked on Ethereum's market valuation, which boasts hundreds of billions of dollars, illustrating the economic impact of Buterin's innovations.
A New Era in Economics
Tabbarok echoed his co-host's sentiments, pointing out that while economists are increasingly recognizing the importance of the crypto industry, computer scientists primarily did the foundational work.
He described crypto as an 'applied mechanism design in the world,' with Bitcoin and Ethereum as prime examples of real-world applications. Tabbarok praised Ethereum's shift from a Proof-of-Work to a Proof-of-Stake mechanism, likening it to a daring feat of engineering.
"You ever seen those videos of these guys in Saudi Arabia where they change the car tires while the car is moving? That's what Ethereum did. Incredible," Tabbarok stated.
The Debate on Bitcoin's Creator
The conversation also touched upon the elusive Satoshi Nakamoto, Bitcoin's mysterious creator. Tabbarok suggested that Nakamoto should have been a Nobel laureate, lamenting the improbability due to Nakamoto's anonymity. Cowen, however, countered by noting the practical impossibility of awarding the prize to someone whose identity remains unknown.
Philanthropy and Recognition
Beyond his technical achievements, Buterin's philanthropic efforts were highlighted as part of his Nobel candidacy.
The economists noted his substantial crypto donations to various charities, emphasizing the broader impact of his work beyond the economic sphere.
As the debate continues, Buterin's potential Nobel Prize candidacy opens up new dialogues about what constitutes significant contributions to modern economic science.
