以太坊的“可信中立性”吸引机构投资者

Credible neutrality isn't just a crypto term. In TradFi, they call it counterparty risk minimization. Ethereum has spent over a decade building exactly that.

According to ex-BlackRock VP, and host of The Milk Road Show, @BitcoinJesusETH, that's a key reason why asset issuers and institutional investors choose Ethereum 🫡

"Most of the innovations that have come out of the digital asset space have started on or been deeply rooted in Ethereum. And I think that Ethereum, it has the lion's share of most of the major things that are driving the digital asset space right now, whether it's tokenization of real world assets or stablecoin adoption, or the agentic economy that's coming and coming fast. I think Ethereum is going to have the lion's share of these things. Ethereum has been very strategic about being slow, secure, but also scalable.

And you know, if you're looking at this from an institutional perspective, things that are very important to them is the minimization of counterparty risk. Now, in the the digital assets native space, we call this decentralization, or credible neutrality. In the TradFi space, they call this counterparty risk, right?

So, @avichal talked about this on on the Empire podcast recently, but Ethereum has something that is very difficult to offer the market, which is credible neutrality. This is CROPS thing, right? Like censorship-resistant, open, permissionless, private, secure, scalable, and it's a global financial, economic, monetary infrastructure. That is a highly valuable thing. It is very difficult to counterfeit or to reproduce. And it is something that Ethereum has spent, you know, a decade now developing in a decentralized manner and offering to the markets in a way that is you know, to use Vitalik's word, impressive.

However, I'm also looking at the markets and just like you said, outside of Bitcoin, you're looking at something like I think 80% of the capital is in the Ethereum ecosystem in some form or another, and a lot of these other options or solutions, they either don't have that credible neutrality that Ethereum offers or they don't have, you know, deep enough liquidity. Like if your whole ecosystem only has a billion or two billion dollars of liquidity in it, then you're not gonna be ready for prime time in terms of institutional adoption. So there's a lot of things that Ethereum has that make it a distinctive ecosystem and asset.

And the biggest ones to me are, like I said, that impressive credible neutrality that it's offering the market, the deep liquidity that it offers, the track record that it offers, and the security that it offers, right? 10 years of uptime, no downtime, some of the most impressive achievements in terms of upgrades to the network without any failures, interruptions, or shutting down. The Sui blockchain, I think, is a really technically impressive blockchain ecosystem and their team is one of the best in all of digital assets, and just a few months ago, their blockchain paused four times, right? So that's not something you've ever seen on Ethereum.

So I think that all these things combine to make a really compelling and unique value proposition for Ethereum the ecosystem and ETH the asset. I think that merits attention. And while I'm you know, dogmatically not a maxi about about Bitcoin, Ethereum, or anything else, I'm just very interested in digital assets overall, and I try to learn from everything that's going on and being developed across digital assets. I think Ethereum is very unique for a number of these properties and very compelling for a lot of these reasons.

And so I think it's something that needs to have a lot of attention, right? Like if it's got the lion's share of the market, a lion's share of the mindshare and the innovation and the capital that's going into the asset class, it deserves the lion's share of attention and education. And so that's kind of like a little bit of how I think about ETH and why I think it's such a compelling story as a network and as an asset and why I focus a lot of my attention there."