Bitcoin has been examined by several countries these days before going into the further process of adopting the cryptocurrency by the government and announced bitcoin as the legal cryptocurrency to their country.
In which the Finland also took an enthusiastic part. The team of economist examining bitcoin has said that the economic system of the cryptocurrency is revolutionary. The group has stated, the bitcoin is created in such a way that really suits to keep away the frauds and anti-social characters from doing illegal activity.
According to the reports, the economists Gur Huberman, Jacob Leshno and Ciamac Moallemi said to the local publication of Finland:
“Bitcoin is a monopoly run by a protocol, not by a managing organization. Familiar monopolies are run by managing organizations with discretion to determine and then change prices, offerings and rules.”-cointelegraph
Bitcoin is a decentralized currency that runs on a protocol since it was created. This protocol that is not biased or can be manipulated for self-profit. The digital currency gives all freedom to its user to keep track through blockchain and set transaction fee according to them. That means the currency does not need to be regulated.
Meanwhile, the economists also mentioned in the report: “Bitcoin’s apparent functionality and usefulness should further encourage economists to study this marvelous structure.”