August 4, 2021

Vitalik Buterin: private and decentralized coins are better than digital currencies of central banks

The creator of Ethereum Vitalik Buterin, in a conversation with Block TV, expressed the opinion that private and decentralized coins much preferable to state-controlled digital currencies of central banks (CBDC).

Speaking about the future of money, Vitalik emphasizedthat their digitalization is inevitable. According to him, the mass adoption of CBDC will occur, however, such payment tools will not necessarily work on the blockchain.

During the conversation, the creator of Ethereum compared three types of digital currencies - sovereign, corporate and decentralized, and also pointed to the challenges facing CBDC:

“The main problem is the currencies of central banks oreven corporations are concentrated in power and data. That is, you become dependent on centralized structures that can exercise very precise control over those who have the opportunity to participate in these systems, and those who cannot. ”

In conclusion, Vitalik expressed confidence that the currency of the future will be decentralized, private and not subject to the threat of centralization emanating from a narrow circle of people.

Recall, last month Vitalik Buterin said that the Ethereum platform could well develop without his participation.