Community Trust ScoreVerified
- Ether is like gasoline
- Integrity in business
- Smart Contracts Ensuring Integrity
- Long-term and Short-term Goals of Ethereum
The greatest asset, even in this country, is not oil and gas. It is integrity. Everyone is searching for it. Asking, “Who can I do business with that I can trust?”
Money or Ether is like gasoline in the road trip; while you are in the Ethereum Ecosystem, you don’t want to run out of gas on your trip. Gas is very important in the ecosystem.
Business Integrity is the ability to act with honesty and be consistent in whatever you are doing based on your particular moral value or belief compass. Also, it is about treating someone with respect behaving towards them to show you understand their worth, dignity, and uniqueness.
You won’t end up putting yourself in a position where you fail to deliver. And, one of the most devastating things you can do to new business relationships is to over promise and under deliver.
Some of the important business ethics for executives are Honesty, Integrity, Promise-Keeping and Trustworthiness, Loyalty, Fairness, Concern for Others, Respect for Others, and Law Abiding.
Vitalik Buterin, in the past, stated, as society becomes more and more complex, cheating will in many ways become progressively easier and easier to do and harder to police or even understand.
Buterin, in his attempt to uncover why a startup is using Ethereum, stated: “Can you please tell me why using the Ethereum Blockchain is better than using Excel? And, when they come up with the answer, it is when you know you have got something interesting.
The core idea of Ethereum was fundamentally sound. By using a smart contract, where several parties put their value in the digital assets, these are automatically redistributed among the parties based on the formula and the data known when the contract is initiated. The integrity factor in the business process gets sustained using smart contracts.
Ethereum has also been plagued by the network’s inability to scale to meet demand without incurring high transaction fees and slow the execution of transactions.
Also, scalability is one of the most significant issues with the Ethereum network today. It currently operates using a proof-of-work protocol, similar to bitcoin. The cryptocurrency miners with purpose-built computers have to compete to solve complex mathematical puzzles to validate transactions.
Those who look into the long-term merits of Ethereum will see it as worthy, and others who look at it from the short-term point of view will find it worthless.
