Alexis make-up: cryptocurrencies will never replace banks

In the published report of the Central Bank of Finland, one of the advisors of the Bank have declared the inadmissibility of equating the crypt for money. Alexis Grim believes cryptocurrency “systems of accounting for non-existent assets.” This writes Coindesk.

The essence of the cryptocurrency far from the money

Grim says that people still do not fully understand the concept and principle of money. It also points to a confusion of terminology in the original wallpapere Bitcoin.

Analyst draws Parallels between the crypt and the Central banks. In his opinion, between them there is no difference. Employees of the Bank make-up compares with the miners, and accounting for banking transactions — bloccano.

The only difference between digital currencies and traditional financial system is that recording transactions in the blockchain supported decentralized network nodes. Bank transfers are stored on a completely centralized server. However, there are no practical differences.

Grim notes that money is the units of account in the economy. While cryptocurrencies will never replace and will never be a separate unit without the support of centralized financial institutions.

Other researchers disagreed with the point of view of Alexi’s Makeup. But the Bank of Finland had already decided their position – in 2014, the Bank recognised the crypt of a commodity and not a currency.

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Message Alexis make-up: cryptocurrencies will never replace banks appeared first on Bitcoin Two.

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