Singapore’s ambition to become a hub for digital assets might not work out because of its skeptical approach toward cryptocurrencies, Vitalik Buterin, co-founder of the Ethereum blockchain platform, said. 

The city-state’s “willingness to make a distinction between blockchain usage and cryptocurrency is like one of those weird things,” he said in a video interview with The Straits Times, published on Sunday. “The reality is if you don’t have cryptocurrency, blockchains that you’re going to have are just fake and nobody’s going to care about them.”