Ethereum Co-Founder Likes Bitcoin Cash for Retail Purchases

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Vitalik Buterin, one of the prominent founders of the Ethereum blockchain, would like to see a future in which Bitcoin Cash can be used to make payments at convenience stores. During a recent conference in San Francisco, Buterin was giving his opinion on the direction that cryptocurrencies should be taking, and he believes that small retail payments are the answer.

Does Buterin Prefer Bitcoin Cash to Ethereum?

Buterin is hardly alone with his opinion; circulation and everyday payments have become a sort of Holy Grail in the cryptocurrency development community, but it is interesting that he would mention Bitcoin Cash, which trades as BCH, instead of Ether, the digital currency token that he helped create. This may seem strange, but the rationale presented by Buterin is valid from a development point of view.

BCH was launched as a Bitcoin fork after a series of disagreements between BTC miners and the core development team, but the BCH philosophy is shaping up to be more functional. Developers of the BCH blockchain have adopted a specific mission to achieve circulation in retail circles; the idea is to make the currency as easy to use as cash, thereby living up to its name. This is a problem that Bitcoin developers have faced from the beginning; they have not been able to get traction insofar as making BTC a cash-friendly token, and it seems as if it may be too late to turn things around.

Back to Buterin: the reason he does not mention his own blockchain as a replacement for cash is that Ethereum was not developed for this purpose. Ethereum can certainly handle financial transactions; however, Buterin believes that this blockchain would have a better future supporting national identification systems, academic research paper repositories, and land registry archives.

Bitcoin Cash Moving Forward

In the case of Bitcoin Cash, there is a strong commitment to achieving widespread circulation, something that competing digital currency Ripple has also found difficult. Unlike Bitcoin, the BCH development team is not willing to make concessions to miners who stand in the way of achieving circulation, which means that the underlying blockchain can be improved in ways that enable its use at the retail level.

Ironically, the Ethereum blockchain is probably closer to supporting digital currency circulation than BCH. The central banks of Russia and Singapore have already released digital versions of their respective national currencies using the blockchain developed by Buterin, thereby foregoing Bitcoin in search of greater flexibility and efficiency.
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