The co -founder of Ethereum Vitalik Buterin believes that increasing the reliability and privacy of decentralized networks will help reduce the dependence on cash.
As an example, he cited the situation in Sweden and Norway, where the authorities refuse to go to digital payments.
Both countries led a world tendency to refuse physical cash, but the emerging problems in safety force them to change the approach.
Officials argue that in the case of network failures or attacks of cybercriminals, cash remains the most affordable and sustainable payment method.
This shift emphasizes the contradiction between innovation and stability in national financial systems.
In this situation, Vitalik Buterin offers to turn to the Ethereum blockchain, which, with proper development, can change the situation for the better.
In his conviction, Ethereum can work safely, confidentially, without uniform refusal points, which will be facilitated by great decentralization.
So far, on the way to improving Ethereum, he is faced with technical barriers in the form of scalability and transaction costs that may interfere with his adoption in such critical situations.
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Source: Cryptocurrency
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