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Vitalik Buterin shares positive outlook on the establishment of crypto cities
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In a blog post published on Sunday, Ethereum (ETH) co-founder Vitalik Buterin voiced his support for utilizing the cryptocurrency phenomena to serve the interests of local governments and their citizens.
Specifically, Buterin discussed the formation of city tokens and decentralized autonomous organizations, known as DAOs. DAOs are self-governing organizations where users draft and enforce rules themselves, such as voting on protocol amendments based on the amount of the underlying crypto tokens they hold.
The idea is still in its infancy. Nevertheless, Buterin claimed that city tokens should satisfy at least three of the following five objectives:
Regarding the last point, Buterin proposed that the vast majority of newly issued city tokens
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