Ethereum founder Vitalik Buterin: cryptocurrencies will be the winner of the new Cold War between the US and China

Ethereum founder Vitalik Buterin: cryptocurrencies will be the winner of the new Cold War between the US and China

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The United States is in the midst of a new Cold War with China. The changing world order has a formidable contention. The Earth is moving from unipolar to multipolar. Information wars, technology and trade wars..!

So who will win this fight, Chinese tech companies or the US? "Maybe cryptocurrencies,"Ethereum creator Vitalik Buterin said in an interview with Morgan Beller, general partner of venture capital firm NFX.

"It's absolutely true that most conflicts are good for cryptocurrencies, even if they have negative consequences for humanity in general," the Ethereum founder said, referring to America's aggression towards Chinese technology companies.

The Trump administration has spent much of four years arguing that Chinese tech companies are a Trojan Horse of the Chinese government. President Trump has sought to ban the popular app WeChat, which is used by more than 1 billion people worldwide, because of national security concerns, and has also tried to force the video-sharing site TikTok to sell. President Trump imposed tariffs on video cards from China before leaving office.

Buterin believes this is the wrong approach. Buterin said::

"Basically, if your strategy for dealing with the terrible things you worry about at a Chinese technology company is to put embargoes on China and throw threats, then you will be very vulnerable to any non-Chinese technology company or any other firm.''

Although the United States, through bans and tariffs, claims to protect Americans from security threats and losing jobs, Buterin said the centralized power of national governments undermines free trade, technology and financial initiatives.

Why Will Cryptocurrencies Win?

"And that's where cryptocurrencies come in because it's decentralized, it's the only way to convince people that you really care about protecting them," Buterin said.

But in the Battle of the two superpowers, how exactly do cryptocurrencies triumph?

Buterin explained a logic problem in which three people were involved in a gunfight. Person A is more capable than B, and B is better than C. Who is more likely to win?

Answer:

"This is because A and B both know that A and B are the greatest threat to each other, and therefore they will basically kill each other, and therefore C is most likely to emerge as the winner."

At this point, the cryptocurrency can be C. Not from both sides, but decentralized, resistant to censorship, and two of the most important obstacles to adoption are focused on each other.

"Crypto is certainly well positioned as C, the winner of the great conflict between one state and another state or states and companies."

Of course, Buterin speaks in broad terms about a topic he understands to be complicated. First, there is a new US administration. There are also more than three players, and there is a D and an E lurking somewhere in the script.

But one of his predictions in the interview is that China and the United States will soon be able to track the movements of each other's citizens via satellite. So a decentralized technology that operates independently of companies and individual technology companies certainly seems to be a winning alternative.

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