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Vitalik Buterin, co-founder of Ethereum, voiced his concerns about Pavel Durov's arrest, highlighting its implications for the future of software and free speech in Europe.
Durov's Arrest Shakes the Tech Industry
The arrest of Pavel Durov, founder of Telegram, was a major story last night, as some may already be aware.
The whole thing began when Durov while refueling on a private plane in France, was wanted only minutes before touchdown. Since Durov is also a citizen of France, the billionaire faces a maximum of 20 years in prison on all charges.
Every credible person in the tech industry, and the cryptocurrency industry in particular, has spoken out about the situation. Vitalik Buterin's (Ethereum's co-founder) viewpoint stands out as the most intriguing, U.Today shares.
It is for this reason that Buterin has voiced his concern on the potential implications of this arrest for the future of software and freedom of speech in Europe.
Buterin Highlights the Risks of Centralization
According to Buterin, this case shows how the internet industry is changing, with platforms being criticized for being too centralized and not following the rules.
Buterin has already addressed other technological concerns, including the dangers of centralized artificial intelligence and monitoring, centralized identification systems, and political attacks on encrypted messaging. To solve these problems, he advocated decentralized technology and finance.
Toncoin Price Drops After Durov's Arrest
In the meantime, the price of Toncoin (TON), which is the native token of the TON blockchain, which is tied to Telegram, has dropped by about twenty percent in response to the news.
The current price of each coin is $5.68 as of this moment. Overnight, the total locked value of the TON blockchain had a significant drop, going from $790 million to $297 million. This was a direct result of the collapse that was observed within the network.
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