Ethereum founder, Vitalik Buterin, argues that cashless societies are too fragile and offers Ethereum as a backup option amid rising cyber threats and geopolitical uncertainty.
Nordic governments, previously advocates of going fully cashless, now stress the importance of physical cash in national security, citing its reliability during cyberattacks or network failures.
Buterin emphasizes the need for Ethereum to be resilient and private enough to handle real-world crises, suggesting decentralized blockchain networks could provide the stability required in emergencies.
For Ethereum to serve as a reliable backup in crises, it needs to evolve beyond its current limitations, according to Buterin.