Polish Central Bank Funds Anti-Crypto Youtube Propaganda Videos

Polish Central Bank Funds Anti-Crypto Youtube Propaganda Videos

in News
Money.pl reports that Central Bank of Poland -  Narodowy Bank Polski (NFB) - and the Polish Financial Supervision Authority have paid popular Polish YouTubers the equivalent of thousands of dollars (91,000 zloty or $27,100) to do “attack ad” style videos on cryptocurrencies, with the money going to Google, Facebook, and a Polish Youtube partner network called Gamellon. One video, a five-minute piece on Youtube which has attracted over half-a-million views since its initial publication in early December 2017, shows an actor dropping in a dried-up fountain as he gathers loose pennies as recompense for having lost all of his own money on a series of cryptocurrency investments.   The Planeta Faktów (Planet of Facts) Youtube channel was also paid to produce a video titled “10 differences between money and cryptocurrency that you need to know”. The description accompanying Dubiel’s video contains the hashtag #uważajnakryptowaluty. The tag is associated with the ‘Watch out for cryptocurrencies’ website, which was set up by the central bank.   The video was not marked on Youtube as “including paid promotion,” and there is also no mention in its description that it is part of the campaign for which the NBP paid. Polish technology website Spider’s Web notes that this is against the law in Poland, where sponsored content has to be marked as such. Furthermore, judging by the quality of the content, its distribution channels, and its creators, the smear campaign appears to target a younger generation. After officially recognizing both trading and mining of cryptocurrencies in Feb. 2017, Poland seems to have stayed out of the crypto news cycle. However, after Venezuela’s Nicolas Maduro announced the launch of a national cryptocurrency, the petro, Poland is reportedly one of the foreign investors willing to trade food and medicine for the new petro currency.   Do you think paying for such YouTube content is unethical? Share your thoughts in the comments section below.

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