Ethereum (ETH) creator Vitalik Buterin says he considers crypto assets to be a superior form of making payments compared to mainstream alternatives.
The 28-year-old programmer says that using digital coins for payments doesn’t just deter censorship, it is also a more convenient method for international remittances and business deals, based on his personal experiences.
“People continue to underrate how often cryptocurrency payments are superior not even because of censorship resistance but just because they’re so much more convenient. Big boost to international business and charity, and sometimes even payments within countries.
Buterin says that he uses digital assets to support charities and academic organizations that otherwise have had limited or no connection to crypto assets.
“I’ve used crypto to give grants to medium-sized charities and otherwise-unconnected-to-crypto academic orgs. Not big orgs the average person would have heard of, but still significant stuff outside the crypto bubble.”
He says that the non-discriminatory and fair character of crypto, a concept known as credible neutrality, can drive more people into using digital assets for buying goods and services.
“I do think that the adoption and integrations that make crypto actually usable for semi-mainstream international payments ultimately depend on its credible neutrality (which censorship resistance is a part of).”
Buterin’s comment comes as credit card company Mastercard and crypto exchange Binance partner to enable more people to use their digital assets for purchases. The two companies just launched the Binance Card in Argentina in a bid to see widespread adoption of crypto payments.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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