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Aleksey Muratov: authority’s fight with cash overs will lead to the growth of Bitcoin

Recently, the use of cash in the developed countries greatly reduced, especially in Western Europe and Scandinavia. According to Chairman of the Board of the International Public Movement Change the World Together Aleksey Muratov, the trend towards the reduction of cash transactions will continue in the future, so an alternative to public money can soon become Bitcoin.

Aleksey Muratov considers that fight initiated by the governments of many countries with cash begins to have a tangible influence on the financial ecosystems. "Take at least a progressive European Denmark. The Central Bank of this country has long been thinking about cash change by e-krone currency based on blockchain. Using as a basis for the national currency of Denmark – krone. Recall that today cash is used by only 20% of the population in Denmark. The rest of residents are turning to banking systems or alternative financial services to make payments or transfers of assets," Chairman of the Board of CWT said.

He noted that e-krone will be centralized currency, that is controlled by Central Bank which eventually will lead to a decrease of security and confidentiality. "As a result, an alternative of e-krone in Denmark can become Bitcoin," Aleksey Muratov said.

He also suggested that the situation of Bitcoin can be positively impacted by the recent proposal of the European Commission, which is planning to introduce new regulations to control the importation of cash and precious metals in the EU.

"Recommendations on curbing the cash inflow and precious metals in Europe were caused by the need to strengthen the fight against the financing of terrorist acts. The European Commission proposed new rules on the freezing of financial resources "terrorists" in countries of the EU. People’s assets can be confiscated who are not even connected with criminals. Though all these proposals are still at the stage of consideration, the probability of their adoption is very high. And since the overall use of cash is reduced, the need in the digital means of payment throws into sharp relief, whose role could easily fulfill Bitcoin," Aleksey Muratov explained his point of view.

 He also stressed that unlike Fiat money Bitcoin has already proved itself as a safe currency. "Since its introduction in 2009, he managed to prove its safety, as far as more financial institutions, people and investors consider it as a global currency," Aleksey Muratov resumed.

Source: CWT News

  • December 26, 2016 5:49 PM MSK