Ethereum Co-Founder Advocates for Open Systems in Healthcare and Finance

Vitalik Buterin advocates for open systems in healthcare and finance to enhance trust and security.

Healthcare, the financial sector, and government administration require open and verifiable systems, stated Ethereum co-founder Vitalik Buterin.

He emphasized that reliance on centralized solutions in key areas undermines trust and reduces security levels.

“The civilizations that have benefited most from new waves of innovation are not those that consumed technologies, but those that created them,” wrote Buterin.

The expert added that “openness and verifiability can counteract global balkanization.” In his view, devices with such characteristics will eventually become the foundation of global systems.

“By default, we are likely to get digital technologies created and managed by centralized corporations,” he warned. “But we have a chance to steer development in a healthier direction.”

Open and Verifiable Solutions for Healthcare and Finance

Buterin noted that proprietary medical technologies limit access, create “data monopolies,” and increase surveillance risks.

He cited the COVID-19 vaccination campaign as an example, where closed production and communication systems undermined public trust. In contrast, he highlighted initiatives like PopVax, which use open processes to reduce costs and distrust.

The same risks affect the financial sector. Buterin pointed out a stark contrast: a crypto transaction took him only five seconds, whereas sending a signed legal form abroad took half an hour and cost $119.

“Crypto wallets and blockchain systems are already proving themselves as open and verifiable infrastructure capable of eliminating inefficiencies,” the specialist emphasized.

He also called for the development of secure open hardware and software for critically important public systems, particularly for voting.

Reflecting on years of distrust towards electronic voting solutions, Buterin noted that a closed “black box” cannot ensure public trust.

Previously, the Ethereum co-founder has repeatedly spoken in defense of privacy, calling it the foundation of freedom.

In April, Buterin emphasized that decentralized applications require “a good social philosophy.”