Vitalik Buterin: Cryptocurrencies are needed, when the authorities do not follow the law – Bits Media

The founder of Ethereum Vitalik Buterin, against the backdrop of blocking bank accounts of protesters in Canada, drew attention to the benefits of cryptocurrencies in such situations.

Vitalik Buterin in an interview at the ETHD conference in Denver
stated, that the efforts of the Canadian authorities block The flow of money to protesting truckers in Canada is well shown, What are cryptocurrencies for. Buterin noted, What he is, As a citizen of Canada, does not support the requirements of truckers from the "Convoy of Freedom", which last week went through Ottawa in protest against restrictions, related to the COVID-19.

“When truckers block roads, This is strongly undermined by the economy. This is illegal and will necessarily take measures against this power. ".

At the same time, he called the reaction of the Canadian government too hard, and cryptocurrency - a potential obstacle to such an excess of powers.

“If the government does not want to follow the laws and give people a chance to protect themselves and actually convinces banks to deprive people of funds to existence without a proper legal procedure, decentralized technologies may impede this ".

Buterin said, that cryptocurrencies are not so much radical technology, How much protective. “It's not about lawlessness. In a sense, we are talking about the restoration of the rule of law ". According to him, authorities and law enforcement agencies can still legally pursue suspects, Without attracting financial intermediaries.

“This concept of persecution of initiative groups through banks to suppress riots is dangerous. The presence of decentralized alternatives for the initiative group is a good way to transfer money ".

Last week, Canadian authorities blocked funds, collected to support the initiative group "Convoy Freedom". In response to this, the protest participants announced the creation of their own Freedom Convoy token. After that, the Federal Police of Canada sent the demand to “stop assistance to any transactions” by participants in the protest traffic of truckers with cryptocurrency exchanges. Recently member of the conservative party of Canada Michelle Garner (Michelle Garner) called the administration of the Prime Minister of Canada Justin Trudeau (Justin Trudeau) pay more attention to the cryptocurrency industry. In her opinion, With the help of the cryptocurrency industry, the country can attract billions of dollars of investment. If the use of cryptocurrencies helps the "convoy of freedom" in achieving requirements, It is likely that in the future the authorities will tighten their policy towards the crypto industry in Canada.