Nordic shift to cash sparks crypto debate
The countries are reassessing their digital-only approach after concerns over network vulnerabilities during geopolitical tensions.
Sweden and Norway are urging citizens to keep using cash amid rising fears of cyberattacks and geopolitical instability. Once global leaders in cashless transactions, both countries are now rethinking their heavy reliance on digital payments.
The move comes as concerns grow over potential network failures and the need for resilient offline alternatives.
Vitalik Buterin, co-founder of Ethereum, has weighed in on the issue, highlighting the risks of centralised systems. He argued that the fragility of such infrastructures makes physical cash essential during crises.
However, he also sees a future role for Ethereum, if the network becomes robust, private, and decentralised enough to function as a reliable alternative.
For Ethereum to support national payment systems in emergencies, Buterin noted that it must improve its resilience and privacy. The platform has added upgrades, but challenges like scalability and high transaction costs still hinder mass adoption.
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