- It’s recently been stated by Vitalik Buterin that crypto still has the capability to fight on with national financial infrastructures.
- In a podcast he took part in earlier this week, Buterin talks about what’s going to happen with decentralisation.
It’s recently been stated by the co-founder of Ethereum, Vitalik Buterin that crypto still has the capability to fight on with national financial infrastructures. In a podcast he took part in earlier this week on 4th March, Buterin talks about his predictions for the future of cryptocurrency and specifically talks about what’s going to happen with decentralisation.
The co-founder of one of the biggest cryptocurrency networks in the world made a claim that digitalisation is going to happen one way or another and decentralised privacy currency would be better to many in a state-controlled central digital currency. Central-bank digital currencies are becoming ever more popular throughout the world with many countries taking note of the new asset class.
The co-founder believes that with or without the power of blockchain, cryptocurrency will be able to continue towards mainstream adoption in a timely manner.
On top of this, Buterin highlighted the challenges that central-bank digital currencies are facing in the world. He went on to say:
“The main challenge with central bank and even corporate currency is basically the concentration of power, the concentration or data collection — that you become dependent on potentially central intermediaries that can exercise a very fine-grained degree of control over who has the ability to participate in these systems and who can’t.”
The Ethereum co-founder further went on to discuss the more appealing future for cryptocurrency to be decentralised and private.
“We've been seeing many situations where even things that are perfectly legal just end up getting restricted because whoever runs the centralized chokepoints just wants to exclude some category of users and I think those are reasons why people will continue to be interested in fully decentralized digital currency.”
In terms of value, the Ethereum Price is currently sitting at $236.54 following a 2.46 percent increase over the past 24 hours.
It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!