Vitalik Buterin: Ethereum Must Be Ready to Replace Cash

Ethereum co-founder Vitalik Buterin has renewed calls for the network to embrace a more cash-like function, pointing to Sweden’s unexpected return to promoting physical currency as a cautionary tale.

Reacting to a Guardian report highlighting Sweden’s reconsideration of its cashless push, Buterin noted on X that even highly digital societies are recognizing the need for physical money in times of uncertainty.

Geopolitical instability and war in Eastern Europe have prompted Swedish officials to advise citizens to keep physical krona on hand, despite years of advancing digital payments and a now-abandoned e-krona pilot.

Buterin argued that centralized systems can prove fragile in crisis scenarios. “Cash turns out necessary as a backup,” he said, emphasizing the need for Ethereum to evolve into a truly robust and private alternative. For the network to serve as a digital fallback, it must meet high standards of resilience and privacy, he added.

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His comments reflect a broader vision of Ethereum not just as programmable money, but as a decentralized financial layer capable of serving real-world needs during uncertain times.

With central banks hesitating on digital currencies and public trust in institutions fluctuating, Ethereum’s ability to function as a private, censorship-resistant form of money could become increasingly vital.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.