Vitalik Buterin: Ethereum Will Help Cope With The Crisis

The founder and ideological inspirer of the Ethereum project Vitalik Buterin believes that his brainchild will help cope with the upcoming global crisis. He voiced this idea during the Ethereal Summit 2020 conference, held in video format.

Buterin believes the upcoming crisis will only be partially related to finances and the discord between nations and governments around the world will be one of the main problems. Blockchain technology should help solve these problems.

“I’m confident that the blockchain, and Ethereum in particular, will play the role of a global neutral player, ensuring the interaction of systems, currencies, and applications. I believe that the tools created by governments will not cope with this role” - he said.

Ethereum founder drew a parallel between the current situation and the 2008 global financial crisis. He added that the upcoming crisis could be the catalyst for a new rally in the cryptocurrency market, and the rate of cryptocurrencies like ETH can significantly grow, as they solve "non-financial problems".

Recall, the long-awaited launch of the Ethereum 2.0 ecosystem should take place in July this year.