Ethereum co-founder Vitalik Buterin in a recent interview shared his thoughts about regulatory actions which has been the hot topic of discussion for the crypto community. Buterin wants regulatory openness and said, “I want to be able to walk into a convenience store, get a card and pay a small fee to start using Bitcoin Cash.”
He shared his thoughts in an event that was reportedly held last week and hosted by Blockchain at Berkeley student-run organization, Origin and co-founder of the Modernist social club, Steve Chen. Discussion was done on all major topics that’s currently being faced by the crypto community. During the chat, Vitalik Buterin told Crypto Congressman, Jason Hsu, how regulatory openness is required for making it easier for people to use cryptocurrency in small amounts, Forbes reported.
To explain it further, he said that if people get to use small amounts of cryptocurrency every day, it is valuable within crypto and also for blockchain use cases that go beyond crypto. “If we can reduce this friction with one trip to the convenience store, it would be simple to start using cryptocurrency,” Buterin noted.
Vitalik Buterin on Blockchain use cases
Vitalik Buterin went on to say that governments should create regulations by first understanding the importance of services that ones that will be useful for the blockchain industry in general. Buterin even suggested one simple use case stating, “One simple use case would be to design national ID cards to sign digital signatures.”
Also, a far-fetched example he gave is, state-issued cryptocurrencies. He added, “This would be an interesting way for small counties to put themselves on the map and provide some economic power in the world economy.” The Ethereum co-founder further added that cryptocurrency exchanges, project fundraising, and others should also have crypto-friendly regulations.
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