Bank of Finland: cryptocurrency is a mistake

Bank of Finland: cryptocurrency is a mistake


The central bank of Finland produced a document under the name “Great deception of cryptocurrencies”, in that said of the attitude toward digital currencies. Cointelegraph reports about it.

Aleksi Grym came forward a draftsman, adviser on a on Digitalization and Head of the Digital Central Bank process in the Financial Stability and Statistics Department.

Through this document Grym  tries to carry, as far as “badly in society understand conception of money” and as strongly the internet and social network “mix up a true and fiction”.

The representative the Bank of Finland considers that cryptocurrencies are the not real currencies, and only “systems count non-existent assets”. As an argument he gives circumstance that such blockchain  technologies in fact are the systems storage of data. And their use for cryptocurrencies “falls short to fundamental descriptions of the money”. To the document a few quotations are also driven from other researches, mainly with a negative tint.

“In any case and for any aims, this database is centralized. Circumstance that there is a great number of the copies base synchronized and up-diffused on a network, not important, in fact every copy contains the same data”, – Grym  marks.

According to a document, basic reason purchase cryptocurrencies are criminal actions, feeling involvement to the association, attempt to ward off the “real or invented” state oppression or speculative trade.

In addition, Aleksi Grym does  set question: “What such the money?”. He marks that the value of this word changed in course of time, but until now under money unit for an exchange, that it is possible to keep and count, is implied. And cryptocurrencies, according to his opinion, appear “from air”.

We will remind that recently the committee of European parliament on economic and monetary questions published a document according to that cryptocurrencies do not present a threat for the central banks different countries of the world. Analysts marked also, that with appearance cryptocurrencies positive changes happened in the world the finances.

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