Last updated on January 2nd, 2018 at 12:00 am
Svante Lehtinen has been quietly and cautiously revolutionizing the economy in Finland. With his non-profit project FIMKrypto, he has been working with a team of coders and strategists to try a new method of establishing common wealth within a nation. The ambitious goals include providing a basic income to every qualifying Finnish citizen, reward incentives for participation, and ultimately the overall improvement of the quality of life of Finnish people. Lehtinen hopes learning from the mistakes of previous altcoins, alongside careful execution of long term strategy, will help FIMK establish a solid foundation in the digital frontier. He has stated:
From the marketing and operational standpoint we’ve certainly learned that hyping the coin and going for quick boom is not sustainable. Also from Auroracoin distribution it became obvious that a sudden “airdrop” is quite a terrible way to distribute national basic income. FIMKrypto dilutes the effect of extra currency supply by increasing the amount of basic income slowly only for users who find out about FIMK themselves and opt in voluntarily. That way the expansion goes organically through word of mouth.
While the goals have been far-reaching, Lehtinen has met tremendous success during the journey towards the wider adoption of a Finnish digital currency. Having raised over 533 bitcoins to launch the project, the FIMK team has plans for the organization to increase their presence over the next four years. One of their most recent milestones has been the release of their new wallet.
The MoFo Wallet, and Future Development
The MoFo Wallet is a FIMK development that aims to achieve the best combination of security and accessibility. The wallet is html5 based, and accessible from any device. What separates this from other online wallets is that beyond just a password, the device accessing the account will need a file stored on the system. This allows the user to have the security of a full on desktop wallet, but also have the cross device compatibility associated with online wallets.
Lehtinen commented that:
I want to make people rethink what money is, ie. transfer and storage of value, vision which the traditional fiat is kind of losing these days. Those things are rooted in the will to contribute to the betterment of the world. Every living thing has value. The problem is channeling it properly to even sustain the well-being of the creature itself. So these are the motives; and the attempt to bring value to not-so-well-off people who like to spend their days in writing forum posts was the first step. I had to quickly transgress to more effective venues such as establishing a quasi-national cryptocurrency.