Vitalik Buterin, the mastermind behind Ethereum and one of the superstars of the cryptosphere, has recently spoken out about his dream of a commercial landscape for cryptocurrency. In his landscape though, he’s not spending Ethereum, not is he spending Bitcoin, he’s spending Bitcoin Cash.According to reports, Buterin recently spoke out at a small event at Berkeley, during which he discussed the state of Ethereum and of course, his thoughts on the future of blockchain technology and cryptocurrency. One of his main focuses (as many know) is this idea that the future for cryptocurrency lies within open regulations that are designed to protect users and protect crypto, whilst allowing people to spend it freely. It seems that Buterin believes Bitcoin Cash is the best currency for this. Perhaps Roger Ver has been getting to him a little? Buterin discussed one of the main problems with blockchain technology and Ethereum is that often, use cases for such technologies are pretty low, especially when you compare them against the hype generated by crypto projects. According to Coingape, Buterin said:
“The amount of sustainable usage of blockchain is very low. Although it exists, there are a lot of people giving value to cryptocurrencies, yet the amount of useful stuff happening is still much lower than the $200 billion market cap makes it seem. The main challenge for the industry as I see it is basically understanding how to bridge that gap and get to point where there is $200 billion in some sense of actual final value being generated.”
Next up, Buterin discusses his vision for the future of cryptocurrency, exactly what he wants to see and the exact environment that he believes will allow the industry to flourish:
“I want to be able to walk into a convenience store, get a card and pay a small fee to start using Bitcoin Cash. Allowing people to use small amounts of cryptocurrency for everyday use is valuable within crypto, and also particularly for use cases of blockchain that go beyond crypto. Even non-financial blockchain use cases still require transaction fees. If we can reduce this friction with one trip to the convenience store, it would be simple to start using cryptocurrency.”
See more for yourself, here. It does sound like Buterin believes that Bitcoin Cash will become the first adoptable cryptocurrency here. At the very least, it sounds like Bitcoin Cash is the one he is backing anyway. This notion of spending small amounts of cryptocurrency in normal shops and stores is the dream of many crypto adoption advocates, a dream that will only fall into place with the right regulations, therefore we do agree fully with what Buterin is saying here. Blockchain and crypto have a use case, though it’s full potential can’t be released until regulation helps it along.
Robert first came across Bitcoin in 2016 during a meetup in Belgium, and has been hooked ever since. With a background in Economics, you can find Robert frequently looking at the Twitter feed of the SEC for any regulatory updates relating to Bitcoin and Crypto in general.
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