A US-Russia confrontation could lead to chaos in the financial infrastructure - and that would prove the superiority of cryptocurrencies

As tension grows about a possible conflit between the US and Russia over Ukraine, most analysts expect Russia to launch some kind fo cyberattack on the Americain infrastructure. That includes power grids, food processing facilities... and finance.

The possibility is very real, so much that the IMF and Israel recently conducted a simulation of a cyberattack on the global financial system.

In this scenario, Russia could activate malware embedded deep into America's banking system infrastructure and cause chaos. Consumers would be prevented from withdrawing funds, payments systems could go down for days, or weeks, the stock market could crash hard... It would be a disaster.

While I obviously don't want this scenario to happen, I also understand that it would highlight the main advantage of cryptocurrencies : they are impossible to censor. At least for decentralized blockchains like Bitcoin and Ethereum. No cyberattack could bring those protocols down - the cost of a succesful attack would amount to billions and billions of dollars.

For those reasons, I think an attack on the traditional financial system would demonstrate the inherent fragility of centralised banking, while highlighting the advantages of our ecosystem.

EDIT : I should clarify that the price of cryptocurrencies would go down a lot in such a scenario. I am talking about the technical aspect of our ecosystem.