#TradingTypes101 #ETHEthereum Co-Founder Vitalik Buterin Sees Opportunity as Sweden and Norway Ditch Cashless Aspirations
"Nordics are walking back the cashless society initiative because their centralized implementation of the concept is too fragile," Buterin said.$ETH
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In brief
Sweden and Norway are reversing their cashless society initiatives after discovering their centralized payment systems are vulnerable to infrastructure failures.
Ethereum co-founder Vitalik Buterin suggested that decentralized systems like Ethereum could potentially serve as resilient alternatives to traditional payment networks, though he acknowledged significant technical challenges remain.
While some crypto experts believe decentralized finance protocols are already robust enough, others point to critical limitations including the need for electricity and internet connectivity.
Ethereum co-founder Vitalik Buterin thinks ETH could be a viable alternative to attempts by Sweden and Norway to make their societies cashless. The countries pulled back recently after discovering that centralized payment systems collapse when physical infrastructures fail.
But in the crypto world, this move prompted a different response: The idea that decentralized systems could take on the role.
"Nordics are walking back the cashless society initiative because their centralized implementation of the concept is too fragile," Ethereum co-founder Vitalik Buterin wrote on X, responding to a Guardian report that both countries now require citizens to maintain cash reserves
