Economists Nominate Ethereum Creator Vitalik Buterin for Nobel Prize in Economics

Economists Tyler Cowen and Alex Tabbarok believe that Vitalik Buterin, the creator of Ethereum (ETH/USD), should be in the running for the upcoming Nobel Prize in Economics.

During a podcast discussion on Tuesday, Cowen made this interesting nomination. He praised Buterin for his significant contributions to the monetary economics of cryptocurrency. Cowen stated that Buterin's impact is greater than that of any other economist.

“Vitalik built a platform and created a currency. He even challenged Mises' regression theorem along the way. Sure, he followed in Satoshi Nakamoto's footsteps, but really, what does someone have to do to win a Nobel Prize?” Cowen remarked.

The two economists also commended Buterin for successfully transitioning Ethereum from a proof-of-work to a proof-of-stake model without causing any disruptions.

“You ever seen those videos of guys in Saudi Arabia changing tires on a moving car? That’s what Ethereum did. Incredible,” Tabbarok said.

Cowen highlighted Buterin’s character as well. He described him as “super polite” and someone who would shine at the ceremony. Cowen also acknowledged Buterin’s philanthropic efforts.

Buterin co-created Ethereum back in December 2013. This network was designed to support decentralized applications and financial solutions. It marked a significant improvement over Bitcoin (BTC/USD), the first blockchain project.

As of now, Ethereum stands as the largest chain in terms of total value locked, boasting deposits over $44 billion. The native cryptocurrency, ETH, has a market valuation exceeding $293 billion.

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, commonly known as the Economics Nobel, will be announced on October 14.