Co-founder Ethereum Vitalik Buterin believes that increasing the reliability and privacy of decentralized networks will help reduce dependence on cash.
As an example, he cited the situation in Sweden and Norway, where the authorities are refusing to completely switch to digital payments.
Both countries have led the global trend away from physical cash, but emerging security concerns are forcing them to change their approach.
Officials say that in the event of network failures or cybercriminal attacks, cash remains the most accessible and resilient payment method.
This shift highlights the tension between innovation and stability in national financial systems.
The Nordic countries are abandoning the cashless society initiative because their centralized implementation of the concept is too fragile. Cash is needed as a reserve, Buterin said.
In this situation Vitalik Buterin suggests turning to blockchain Ethereum, which, if properly developed, can change the situation for the better.
According to him, Ethereum can operate securely, confidentially, and without single points of failure, which will be facilitated by greater decentralization.
Still on the road to improvement Ethereum faces technical barriers in the form of scalability issues and transaction costs that may hinder its adoption in such critical situations.
