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October 24, 2020
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IGBiNT comments on the “Supervisor” report on cryptocurrencies Blocksats

The Blockchain and New Technologies Chamber of Commerce (IGBiNT) has just published its announcement regarding the “Supervisor” report broadcast by TVN24 more than a week ago. The topic of the program was then BitBay and cryptocurrencies.

IGBiNT: we are only interested in educational issues

IGBiNT emphasizes that it is only interested in educational issues.

“As the Chamber Board, we do not want to enter into legal disputes and controversies related to the broadcast program. We are of the opinion that TVN and Bitbay will explain it themselves.

We refer to TVN material only in education – we want to facilitate future market interpretations. We also want to show that even for experts from related markets, blockchain technology is difficult and complex – just like the operation of digital currencies based on it “

– written at the beginning Communication.

“In the recording, we referred to fragments that, in our opinion, are harmful to the entire industry and put all digital currency users in a very bad light”

– added further.

Myths that must be refuted

The board of the chamber also emphasizes that “Scale of using digital currencies for crime” is not as common as the authors of this report suggest.

“(…) it is a fraction of a percentage of the entire digital currency market, and compared to crimes involving the ordinary financial market, these are completely marginal values. This is due, inter alia, to the ease with which transactions carried out in open blockchains can be tracked and analyzed. “

– experts say.

“The report cited in the recording can be downloaded from the website https://blog.chainalysis.com/reports/cryptocurrency-crime-2020-report

– cite sources.

They further cite the graph “Showing the share of turnover related to crime in relation to the total turnover of the digital currency market – it can be seen that it is usually below 1% of the market, and the share of ransomware and terrorist financing is unreadable”:

The Chamber also refers to the interview it gave about the material:

Let us remind you that, as you can see, not very reliable material of the “Supervisor” has already been commented by the Polish Bitcoin Association, which we wrote about here in more detail. The matter was immediately commented on by Sylwester Suszek from BitBay. You can read his opinion on our website here.

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