Vitalik Buterin, the co-founder of Ethereum, says that ETH should work to be more ready to play the role of cash.
In one new post On the social media platform X, Buterin commented on a report published by The guardian About the migration of Sweden to become a society without cash.
The report discusses how plans for Sweden to become completely cash by 2025 have been partially successful. Due to geopolitical uncertainties and the war in Eastern Europe, the Swedish government is now encouraging citizens to keep more money – Krona – on them.
Sweden launched a pilot program for an “E-Krona” in 2017, but then ended it in 2023.
The Riksbank-de Centrale Bank of Sweden declared in March that it was not a need to issue a digital krona, but that it would re-evaluate the plans if the European Central Bank (ECB) would issue a digital euro.
Said De Riksbank,
“The assessment of the payment investigation in 2023 was that the Riksbank was insufficient social need to issue an E-square. At the same time, the study was of the opinion that the Riksbank should continue to evaluate the conditions for the performance of an E-square, so that it is possible to introduce an e-crana within an reasonable time if the Riks Day makes such a decision.”
Says Buterin about the story of Guardian,
“Nordics are recovering the initiative of Cashless Society because their centralized implementation of the concept is too vulnerable. Cash appears to be necessary as a backup.
Ethereum must be resilient enough and private enough to be able to play this kind of role in a credible way. “
Earlier this month, Buterin made the headlines by calling Ethereum ‘unnecessary complex’.
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