Ethereum Co-Founder,Vitalik Buterin Makes a Stand Against CBDC’s
Ethereum's co-founder, Vitalik Buterin, expresses doubts about digital bank currencies, fearing they lack privacy and mirror old banking ways.
Ethereum co-founder Vitalik Buterin shared his changing views on central bank digital currencies (CBDCs) in a recent chat with CNBC.
Buterin once had high hopes for CBDCs, thinking they'd be modern and transparent. Now, he feels they're just another part of the old banking system.
“I was hopeful years ago, thinking CBDCs would be new and better. But as they develop, they look more like the regular banking we know,” Buterin said.
Buterin warns that these digital currencies might not be private. He thinks CBDCs could let governments and big companies watch our money moves.
He says, “These new systems might give even more power to governments and businesses to see what we do with our money.”
Lastly, Buterin believes Ethereum can resist government control better, especially with its new system. He explains that Ethereum's current setup is hard to stop because it doesn’t need much equipment or power. This makes it different from other systems that governments can easily track.
