Vitalik Buterin believes that Ethereum can play a role in a hereafter global crisis every bit the glue that helps bind nations together.

The Ethereum co-founder spoke at the Ethereal Summit 2022 on May seven to The Defiant's Cami Russo. Describing the current global crunch every bit more than just a financial one, Buterin said the levels of political discord and distrust betwixt countries had highlighted the need for a network like Ethereum.

"I definitely recollect that there's a role for blockchains — and Ethereum in particular — to play in being this kind of neutral global player role [for] these systems, currencies, and applications to interact. I think anything created and maintained by nation-states can't play that role."

We are the world

When pressed by Russo as to whether he thought of Ethereum every bit a network connecting these nations, with ETH as the currency, Buterin agreed. He cited "concerns around censorship, privacy and institutions" every bit factors driving people towards cryptocurrency and blockchain.

Describing the current situation as only "ane third" fiscal, the Ethereum co-founder also discussed the electric current state of affairs compared with the Global Financial Crunch in 2008 and if the event could help fuel a new crypto wave. Buterin said cryptocurrencies similar ETH could abound this time effectually by addressing "non-financial problems" in the globe.

"The cryptocurrency infinite… for the first decade or then, it was actually focused on the fiscal aspects — censorship resistance of money… but here in 2022 we're definitely seeing a lot of the aforementioned themes, but information technology's somewhat less financial than before."