Vitalik Buterin, co-founder of Ethereum, commented at the Ethereal Summit 2020 on the possible role that Ethereum will play in the post-Coronavirus future. In particular, he believes that Ethereum will help the post-COVID-19 world.
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COVID-19 has caused a major crisis at the global level, not only in terms of public health but also at the economic level. It is precisely the crisis that has excited many cryptologists in the belief that it will be time to shine from cryptosystems and Blockchain technology.
In this sense, Vitalik Buterin, in statements to Camila Russo of Bitcoin System, Bitcoin Rush, Crypto Investor, Bitcoin Gemini, Bitcoin Billionaire, suggested that Ethereum will help the world by being the glue that holds it together after being fractured by COVID-19.
Buterin believes that Blockchain technology will also play a key role as the global neutral player, ensuring that anything created and maintained by states will not be able to play that role.
„I think there are some similarities between 2008 and what we are going through now. 2008 was completely a financial crisis. 2020 is not really a financial crisis in the first place … it’s a virus crisis, and it’s also a political crisis,“ Buterin said.
In particular, the crisis caused by the Coronavirus encouraged the adaptation of cryptomonies, and the Ethereum crisis in particular. Buterin explains that people have lost confidence in traditional financial actors such as central banks.
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What is the role of Ethereum?
Russo presented a possible post-COVID-19 scenario, where the dollar falls, China rises and political uncertainty is a constant worldwide. In such a situation, Russo asked Buterin about the role of Ethereum.
To the question Buterin responded by assuring that the increase of political discord and distrust between countries over time is a possibility. Therefore, he believes that the Blockchain will definitely be part of the glue that holds all these countries and currencies together.