Vitalik Buterin explains how cryptocurrency and blockchain will help users in everyday life

Бутерін" href="https://noworries.news/biography/vitalij-buterin/" data-bio-id="3642">Vitalik Buterin, co-founder of Ethereum ETH $3,389.09 Ethereum 0.51% Market capitalization $407.19 billion VOL. 24 hours $0.74 billion , spoke about the possibilities of using cryptocurrencies in everyday life. In particular, the developer touched upon the application of blockchain technologies and zero-disclosure proofs (ZKP).

Buterin believes that ZKP mechanisms can be used to verify identity, credentials, or reputation. This allows to increase the level of security and privacy in various aspects of digital interaction.

For cross-border payments, Buterin recommends using cryptocurrency P2P platforms, which have significantly improved the interface and reduced fees in recent years. In his opinion, this will make international transactions faster and cheaper, eliminating the need for intermediaries.

Vitalik Buterin also sees prospects in the development of decentralized social networks and forecasting markets. Decentralized social networks can provide users with more control over their data and avoid censorship. Forecasting markets are already being actively used for various financial and non-financial forecasts, which allows for more informed decisions.

In addition, the father of ethereum suggested integrating ZKP into corporate applications to improve data security. This technology can be useful for creating censorship-resistant voting systems, which ensures the fairness and transparency of the electoral process.

Nevertheless, some market participants, such as Buterin’s interlocutor on Platform X, 0xDesigner, question the usefulness of meme coins, which often lack real value and functionality. Buterin has also previously criticized celebrities' experiments with meme coins, calling for a focus on projects that bring social benefit.