Vitalik Buterin Envisions Usage of Bitcoin Cash (BCH) at Convenience Store

In comments on the future of cryptocurrency, Ethereum’s co-founder Vitalik Buterin mentioned the spreading and usage of BCH.

The value of cryptocurrency may be seen in regular, small-scale everyday spending, believes Vitalik Buterin, co-founder of Ethereum. In a private event in San Francisco last week, he spoke on the future of cryptocurrencies, remarking:

“I want to be able to walk into a convenience store, get a card and pay a small fee to start using Bitcoin Cash. Allowing people to use small amounts of cryptocurrency for everyday use is valuable within crypto, and also particularly for use cases of blockchain that go beyond crypto. Even non-financial blockchain use cases still require transaction fees. If we can reduce this friction with one trip to the convenience store, it would be simple to start using cryptocurrency,” said Buterin, cited by Forbes magazine.

In the past, Buterin has called for retail use of digital assets, in effect a usage similar to cash. The latest statement is also supportive of the mission of the Bitcoin Cash community, to turn the asset into an agile form of digital cash.

Ethereum itself is not primarily conceived as a cryptocurrency, or a replacement of cash, but rather as a utility coin to facilitate the creation of projects. The Ethereum network goes beyond financial transactions and into transactions that help computation.

Speaking on the future of crypto, Buterin proposed use cases such as ID cards that can double-serve as cryptographic electronic signatures. Buterin also sees usages in other areas:

“Another more far-fetched example would be state-issued cryptocurrencies. This would be an interesting way for small counties to put themselves on the map and provide some economic power in the world economy. Also, on the regulatory side, cryptocurrency exchanges, project fundraising, etc. need to have crypto-friendly regulations. Most importantly, encouraging a strong academic ecosystem is also needed for governments looking to pass regulations.”

Buterin also mentioned that he believes ICOs to be “old and boring”, past their prime as a financing model.

Regarding the story of being propositioned for a job in Google, Buterin stated it was probably based on automated searches of his GitHub account, and no formal offer was made.

The ETH digital asset recovered slightly, to $289.85, still relatively depressed as enthusiasm for digital assets is dropping.