#criptomoeda Co-founder of Ethereum responded to the Swedish rethinking of a cashless society

Vitalik Buterin said there are ways in which Ethereum can function as a financial backup in times of instability through hardware solutions.

Co-founder of Ethereum responded to the Swedish rethinking of a cashless society

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As Sweden reconsiders its move towards a cashless society, Vitalik Buterin, co-founder of Ethereum, highlighted the fragility of centralized digital payments and the opportunity presented by decentralized payment alternatives.

In recent years, Sweden has led the way towards a cashless future, with the widespread adoption of digital payment platforms. However, in light of concerns over cyber threats, civil defense, and instability, Swedish authorities are now actively encouraging citizens to keep some cash on hand.

Buterin pointed out that this reversal illustrates that while centralized solutions may be efficient, they may not be reliable in times of crisis.

"The Nordics are reversing the cashless society initiative because their centralized application of the concept is too fragile," wrote Buterin, citing an article published on March 16 in The Guardian. "Cash proves necessary as a backup."