The co-founder of Ethereum, Vitalik Buterin, believes that if decentralized networks become more robust and private, they can support national efforts to reduce dependence on money.
In an article on May 25 on X, Buterin commented on recent developments in Sweden and Norway, where the authorities rethink their almost total transfer to digital payments.
The two countries have led the global tendency to eliminate physical species, but emerging security problems require a change in approach.
According to reports, governments urge citizens to continue using money as a form of national preparation. The recommendation follows growing concerns about cyber war and potential expansion of the conflict of Russia-Ukraine.
Managers argue that in the event of network failures or hostile attacks, Cash remains the most accessible and most resilient method of payment.
The change highlights a broader tension between innovation and stability in national financial systems. While digital payments offer speed and convenience, recent Southey’herey events are not yet a complete substitute for physical money in high -risk scenarios.
Ethereum offers a promise
In Buerin’s opinion, centralized digital systems were too fragile to withstand geopolitical shocks, which invariably made money “necessary”.
According to him:
“The Nordics return to the initiative of society without species because their centralized implementation of the concept is too fragile. Money is necessary as a backup. “
Buterin considers these concerns as an opening for Ethereum to intervene, but only if the network evolves.
He suggested that Ethereum could offer a more sustainable alternative if it could work safely, in private and regardless of unique failure points.
Buterin said:
“Ethereum must be sufficiently resilient and private enough to be able to play this type of role in a credible manner.”
He stressed that Ethereum should improve considerably before supporting such a critical infrastructure. This includes improving confidentiality protections and increasing its system resilience by decentralizing more.
Already, the network brings significant changes by introducing new features that improve its functionality. However, Ethereum is still faced with technical obstacles, such as scalability problems and transaction costs, which could hinder its adoption in such emergencies.
