Vitalik a Potential Candidate for Nobel Prize in Economics?

Vitalik Buterin, the co-founder of Ethereum, has been nominated as a candidate for the Nobel Prize in Economics, a suggestion put forth by economists Tyler Cowen and Alex Tabarrok.

This nomination was discussed in the 8 October episode of their Marginal Revolution podcast, where Cowen described Buterin as an "unusual pick" for the prestigious award.

He expressed that, if given the chance, he would select Buterin for his significant contributions to the field.

What might this nomination mean for the future of cryptocurrency and its influence on economic theory?

Vitalik's Major Contributions

Cowen has drawn comparisons between Buterin's contributions and those of Satoshi Nakamoto, the elusive creator of Bitcoin, arguing that Buterin's impact surpasses Nakamoto's.

He asked hypothetically:

“What does someone have to do to get a Nobel Prize?”

He commended Buterin for his pivotal role in reshaping the monetary system through the development of Ethereum, the introduction of a new currency, and advancements in economic theory.

During their discussion on the merits of theoretical economics in an episode of their podcast, Cowen and Tabarrok agreed that Buterin's tangible achievements in monetary economics warrant a Nobel Prize.

Per Cowen:

“Vitalik built a platform, created a currency, you could say, refuted Mises' regression theorem in the process, obviously following in the footsteps of Satoshi, but my goodness, what does someone have to do to get a Nobel Prize?”

They also highlighted Ethereum's significant transition from proof-of-work to proof-of-stake, a complex technical challenge that redefined transaction validation on the blockchain.

Tabarrok likened it to:

“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.”

Launched in December 2013, Ethereum was designed to do more than Bitcoin, enabling the creation of decentralised applications (dApps) and various financial tools.

Cowen emphasized that the seamless transition to proof-of-stake without disrupting operations was a remarkable accomplishment deserving of global recognition.

In addition to his technical prowess, Cowen described Buterin as an intellectual and personable representative of the cryptocurrency community, noting his polite demeanour and suitability for the Nobel ceremony.

Tabarrok acknowledged that while Buterin's contributions are monumental, they come second only to those of Satoshi Nakamoto, humourously suggesting Nakamoto should have received the prize but may no longer be alive.

Cowen countered, expressing uncertainty about Nakamoto's fate.

The Nobel Prize in Economics will be announced on 14 October.

After all that is said, are the odds in Buterin's favour and is the Studio Ghibli lover even aware of this nomination?