The concept of cryptocurrency is a paradox

The analysis shows that the concept of digital currency is a paradox.

Recently, the Bank of Finland a consultant, wrote in a paper, encryption money and digital currency is one thing, but not the money.

The consultant named Aleksi Grym, according to him, encryption currency is not so much a currency, it is more virtual asset accounting system.

He believes that the reason why people will produce the illusion is because of lack of awareness of money, like digital currency and encryption currency terms such confusion is because Satoshi initial white paper statements unknown cause.

Aleksi Grym compares the functionality of Bitcoin and traditional banks. He believes that traditional bank accountant like miners; bank account balances for recording and centralized transaction ledgers (the centralized ledger) and bitcoin block chain similar.

Grym said:
" Encryption currency only difference between the system and the traditional ledger systems, encryption currency ledger system in a distributed computer network, while traditional banks is in a centralized computer system. However, in the function of the system, two There is no actual difference between the two."

He then added:. "Money, in essence, is a unit of account" Therefore, encryption currency although as an excellent "financial record keeping device," but it neither replace the current monetary existence, Nor will it be the only form of currency that is not endorsed by institutions.

Whether the Finnish bank has the same meaning as Aleksi Grym is no longer important. The important thing is that as early as 2014, the Finnish central bank has listed Bitcoin as a commodity rather than a currency.

But encryption currency is the point of the central bank of the Netherlands was interested, until now the Bank of the Netherlands has published several papers discussing encryption currency and block chain various issues.

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