The public has a very poor knowledge of money, and the Internet and social networks mix up reality and fraud, which leads to a nonsense, said Alexi Grimm, head of the Digital Central Bank at the Finnish Financial Stability and Statistics Agency.

He wrote a report titled "The Big Lie of Crypto Currencies", in which he expressed negative attitude towards digital money, Cointelegraph reports.

The representative of the Finnish bank wrote that crypto currencies cannot have a status of real money, they are a system of calculation of non-existent assets. Grimm explained that blockchain is actually a data storage technology.

Coins do not correspond to the main features of money, he noted.

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