CRYPTOCURRENCY CONCEPT IS A ‘FALLACY’ SAYS FINNISH CENTRAL BANK ADVISOR

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CRYPTOCURRENCY CONCEPT IS A ‘FALLACY’ SAYS FINNISH CENTRAL BANK ADVISOR

“The analysis shows that the concept of a digital currency is a fallacy.” Using digital currencies synonymously with the term cryptocurrencies, a paper published by the Bank of Finland and written by one of its advisors argues that cryptocurrencies aren’t real forms of money. According to Aleksi Grym, the central bank’s digitalization advisor, cryptocurrencies are “not currencies at all but rather accounting systems for non-existent assets.” The “great illusion,” he posits, results from how “poorly understood the concept of money still is” and the rather “confusing choice of terminology” featured in the original white paper authored by bitcoin’s pseudonymous creator, Satoshi Nakamoto. Reed more on the website – CoinDesk.

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The Crowdsale Network platform is based on the goal of supporting and implementing socially important projects to improve the quality of life of every person. With the advent of blockchain and crypto-currency technologies, it became much easier to attract investments into a start-up with the help of ICO than through venture funds. We are constantly looking for viable projects and are ready to invest all the necessary resources for their implementation. We have developed a unique algorithm for selecting start-ups and a phased financing mechanism that will avoid project scams and protect investors’ funds and our reputation.

The ICO means the release of tokens, and the crowdfunding is the target fundraising for the project, where the startupper does not offer investors tokens in exchange for money but something else. For example, he offers the product itself at a low price or a constant discount on all types of services of the creating business.

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