Vitalik Buterin Doesn't Believe Cryptocurrencies Will Replace Fiat

by in Cryptocurrency News

Vitalik Buterin crypto

At VivaTech 2022 Conference, Ethereum co-founder Vitalik Buterin predicted that fiat currencies will continue to be the dominant form of finance and not cryptocurrencies. He said it's unlikely for crypto to overtake traditional currencies.

Related: Vitalik Buterin Says Layer 2 Transactions Need to Be Under $0.05

Despite some assumptions that the created global economy difficulties may lead to national currencies' losing their purchasing power, and people will focus towards alternatives like crypto to preserve their holdings, Burerin doesn't agree that cryptos can take over the world. According to him, it's about crypto and digital and governments.

Previously, the Ethereum co-founder spoke about other use cases of blockchain outside the financial sector. A few days ago, Buterin published an article about the applications of the technology. He mentioned that different aspects can benefit from blockchain solutions including data stores, open-source metrics, and common knowledge games.