Vitalik Buterin, the founder of Ethereum (ETH), claims that he prefers using cryptocurrency to traditional payment methods.
Based on his personal experiences, the 28-year-old programmer claims that utilizing cryptocurrency for payments not only prevents censorship but is also a more practical approach for cross-border transfers and commercial transactions.
“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.” Buterin wrote in a Tweet. “Big boost to international business and charity, and sometimes even payments within countries.
Buterin claims that he supports charitable causes and academic institutions with digital assets that would not otherwise have much or any link to such assets.
The developer then shares that he has even used cryptocurrencies in the past to grant medium-sized charities that were otherwise unconnected to crypto.
“Not big orgs the average person would have heard of, but still significant stuff outside the crypto bubble.”
According to him, the non-discriminatory and equitable nature of cryptocurrencies—also referred to as credible neutrality—can encourage more individuals to use digital assets to pay for products and services.
“I do think that the adoption and integrations that make crypto actually usable for semi-mainstream international payments,” said the co-founder of Ethereum in another Tweet. “The ultimately depend on its credible neutrality (which censorship resistance is a part of).”
Other Companies Already Presenting Crypto Payments to The Public
The 28-year-old millionaire’s statement has perfect timing.
A couple of days ago, Mastercard and Binance closed a partnership in order to introduce an easier method of utilizing cryptocurrency payments in the day to day life.
The introduction of the “Binance Card” will look to offer crypto alternatives to traditional fiat currency transactions for shops.
For now, the collaboration between Mastercard and the cryptocurrency exchange Binance is only being implemented in Argentina. However, the corporations are already planning an extension of these services for the rest of South America.
Who is Vitalik Buterin?
Vitaly Dmitriyevich Buterin is a developer from Canada who is most known for being one of the Ethereum co-founders.
Buterin is truly one of the pioneers of the cryptocurrency world. The developer’s first involvement with crypto was in 2011 when he became the co-founder of “Bitcoin Magazine”, a news magazine that followed news and trends of Bitcoin.
Shortly after, Buterin believed that bitcoin needed a scripting language for application development.
That’s when he, alongside Gavin Wood developed the project of the creation of Ehereum.
Ethereum today is the currency that is today the second largest cryptocurrency by market capitalization in the world.