Vitalik Buterin: 'Financialized Pseudonymous Society Might Not Be Feasible'

In a Twitter/X post by Vitalik Buterin, the founder of Ethereum argues that a "financialized pseudonymous society might not be feasible as there might be the possibility of collusion as outlined in his blog post.

Ethereum founder Vitalik Buterin took to Twitter/X on Monday to share his thoughts on the possibility of a "financialized pseudonymous society." Buterin argues that such a society may not be feasible due to the potential for collusion, as outlined in a recent blog post.

"I don't think the "anonymous society" or even "financialized pseudonymous society" thing actually works though," Buterin wrote. "Collusion issues are unresolvable."

Buterin's comments come in response to a recent proposal by a group of anonymous COMP token holders to allocate $24 million in COMP tokens to a yield-bearing protocol called goldCOMP. The proposal, which was ultimately passed, would give COMP token holders a passive income.

Some industry participants, such as Wintermute, have expressed concerns that such actions could be considered a governance attack on the DAO. Such an attack could also set a precedent for the industry, potentially leading to more attacks in the near term.

Buterin argues that a more multidimensional form of identity with "Souldbound" feature is required or otherwise even the most stable governance structure will fall to governance attacks as witnessed by a few DAOs.

"Finance can be viewed as a set of patterns that naturally emerge in many kinds of systems that do not attempt to prevent collusion," Buterin said. "Any system which claims to be non-finance, but does not actually make an effort to prevent collusion, will eventually acquire the characteristics of finance, if not something worse."

Buterin concludes the post by stating that anonymity is a check and balance and it can only exist for a certain portion of participants in the cycle. Running the whole crypto cycle full of anonymous individuals is equal to running a society on perma-rebellion energy and is not ideal as there are risks that have yet to be addressed.

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