Vitalik Buterin: Anonymous and Decentralized Cryptocurrencies Are the Future

Cryptocurrencies still have the ability to compete with national financial infrastructures, Vitalik Buterin said.

Vitalik Buterin spoke on the Block TV podcast about his assessment of the future of cryptocurrencies and in particular about the fate of decentralization. He claims that digitization is inevitable and that a decentralized currency to protect privacy is more beneficial for many people than the state-controlled digital currency of the central bank (CBDC).

As governments increasingly want to introduce their own digital currencies, one might fear that cryptocurrencies simply cannot compete with the national financial infrastructure. However, Ethereum’s co-founder, Vitalik Buterin, believes that this is not the case. Central bank currencies will exist alongside corporate currencies and decentralized currencies in parallel.

Vitalik believes that the more attractive future currency will be decentralized and preferably focused on privacy, as it will be more resistant to “centralized checkpoints”.

Author: Marko Vidrih

Featured image credit: Coindesk