July 24, 2024

Vitalik Buterin: “Decentralized currencies are better than state cryptocurrencies”

Ethereum co-founder Vitalik Buterin believes that the digitalization of all aspects of daily life is inevitable anddigital currencies will ultimately defeat fiat money.

Buterin said in the Block TV podcast that digitalCurrencies will gradually take the lead in payments and daily settlements. At the same time, they do not have to be built using the blockchain, however, decentralized currencies look more attractive than centralized state cryptocurrencies.

“The main problem of state and evencorporate currencies in the focus of power, centralized collection of information. You become dependent on central intermediaries who can very finely control who and how can participate in such systems, ”Buterin said.

According to the co-founder of Ethereum, in the future, a decentralized currency with anonymity functions will become the most attractive.

“We observe many situations when thingseven being completely legal, limited to the state. If people who manage centralized points of connection to the system want to deny access to a certain group, then they can do it. That is why a fully decentralized digital currency will always be interesting, ”he concluded.

In late February, Vitalik Buterin spoke about plans for the transition to Ethereum 2.0. For 2020, the priority remains the launch of "phase 0", that is, the first stage of the launch of Ethereum 2.0.