Vitalik Buterin believes that Ethereum can play a role in a future global crisis like the glue that helps unite nations.
The co-founder of Ethereum spoke to The Defiant’s Cami Russo at the Ethereum 2020 summit on May 7th. To describe the current world crisis as more than just a financial crisis Buterin said the extent of political discord and mistrust between countries underlined the need for a network like Ethereum.
“I definitely think that blockchain and Ethereum in particular play such a role as a neutral global player. [para] that these systems, currencies and applications interact. I believe that anything that is created and maintained by countries or nations cannot play this role. “
We are the World
When Russo urged Buterin to think of Ethereum as a network connecting these nations to ETH as a currency, Buterin agreed. He cited “concerns about censorship, privacy, and institutions” as factors driving people toward cryptocurrency and blockchain technology..
Description of the current situation as just a financial “third”, The co-founder of Ethereum also discussed the current situation compared to the global financial crisis in 2008 and whether the event could help trigger a new wave of cryptocurrencies.. Buterin said cryptocurrencies like ETH could grow this time by tackling “non-financial problems” around the world.
“The crypto space … for the first decade or so, it really focused on the financial aspects, the resistance to money censorship … but here in 2020 we will definitely see many of the same problems, but it’s a little less financial than before . “