TL;DR
- Vitalik Buterin suggests a hybrid model for the development of future cities that combines principles of democracy, capitalism and decentralization.
- It proposes that citizens have greater access to governance through assets and proposes higher taxes and reduced property rights for landowners.
- Buterin highlights the importance of inclusive public infrastructure that benefits all income levels and the overall success of the city.
Vitalik Buterin, co-founder of Ethereum, has proposed an innovative vision for the development of future cities that merges the principles of democracy, capitalism and decentralization into a hybrid model.
During a discussion on the social platform Farcaster, where the concept of “for-profit cities” was being debated, Buterin argued that cities should not operate exclusively as profit-making entities, but should also prioritize the public good and the well-being of all their citizens.
In his proposal, Buterin suggests a balanced approach in which public infrastructure is accessible to people of all income levels, and where cities benefit both the nation and the world as a whole.
Faced with problems such as homelessness, Buterin advocates for solutions that do not simply shift the problem to other areas, but offer meaningful responses.
To achieve this, it proposes that citizens have greater access to governance through the ownership of assets, which would imply a redistribution of power through reduced property rights for landowners and a greater tax burden on land.
Buterin also highlights the importance of implementing land value taxes as a mechanism to incentivize governments to improve local public goods, which in turn would increase land values.
In this model, landowners would retain the full value of any development made on their properties, allowing them to benefit from their investments while contributing to the overall success of the city.
This combination of incentives aligned with collective well-being is key to Buterin‘s proposal for a fairer and more efficient urban model.
Vitalik Buterin vision’s for cities of the future
Buterin’s proposed hybrid approach not only seeks to better align the interests of different stakeholders within the city, but also to create an environment in which both current and future residents can thrive.
Incorporating a class of investors into city government could enable greater adaptation to change and facilitate the integration of new residents, as well as enable significant transformations in the urban structure, such as the reimagining of entire neighborhoods.
Buterin also emphasizes that urban governance must go beyond simply satisfying investors or citizens based on their economic capacity.
In their vision, cities must be inclusive spaces that operate positively both locally and globally, ensuring that the basic needs of all citizens are equitably met.
The model also suggests that land value taxes could play a crucial role in financing public improvements, creating a cycle in which investments in infrastructure and public services raise land values.
This would benefit both property owners and the wider community, combining elements of decentralised autonomous organisations with capitalist incentives to achieve fairer and more efficient urban governance.
Buterin‘s proposal offers a novel perspective on how cities of the future might evolve, balancing private interest with the public good.
