$LPT

When the cashless society encounters a setback, Vitalik Buterin calls for Ethereum to save the day!

Once a beacon leading the global cashless wave, the Nordic countries are now playing out a large-scale ‘this is nice’ scene! Countries like Sweden and Norway are turning back, encouraging cash savings, legislating penalties for businesses that refuse cash, and even exploring offline payment systems. Why? Overreliance on centralized digital payments leaves them as fragile as paper in the face of crisis! When power outages or cyberattacks hit, digital payments go flat, while cash becomes a lifeline, with even 14% of transactions in the U.S. in 2024 relying on cash!

At this moment, Ethereum's founder Vitalik Buterin makes a dazzling appearance, throwing out a “game-changing” viewpoint: Ethereum can serve as a digital cash “spare tire”! He believes that as long as Ethereum is robust and private enough, it can step in when centralized payments falter. Imagine, when the system collectively “gives up,” Ethereum could quietly maintain transactions, showcasing a decentralized reliability!

However, Vitalik also candidly admits that secure transfer solutions like zk are somewhat “difficult” to popularize, with hardware costs and double-spending prevention being obstacles. But this doesn’t hinder Ethereum’s ambitious plans, as it works on security initiatives and researches stateless clients, wholeheartedly aiming to become the “super substitute” in the world of digital payments. This plot is even more exciting than a Hollywood drama!