Why the IMF wants to enter on the market of crypto-currencies with its own virtual currency ?

Christine Lagarde, managing Director of the International Monetary Fund (IMF), has had a lot of things to say at the annual meeting of the IMF in Washington D. C. And specifically on the potential of digital currencies despite its nature disruptive. In addition, she added that the IMF does not exclude the possibility of creating its own crypto-currency.

The IMF wants to reach another level

Recently, Russia entered a little more into the world of digital currencies and decentralized with the announcement of the program next to its own crypto-currency, namely, the ” cryptorouble “. And it may well be that international organizations, as well as States, are truly the value of virtual currencies, but only those that they can control and make it themselves. In the Face of these perturbations the massive potential, the first head of the IMF said that it saw the organization play a crucial role in the regulation of crypto-currencies on a global scale. According to Christine Lagarde, he is a positive role. Indeed, Lagarde is of the view that financial institutions across the world are taking risks by not taking account of technological products emerging financial.

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The crypto-currency of the IMF, it will be soon !

Still in Washington, Lagarde said that the IMF could seriously think about to develop its own crypto-currencies in the future. She pointed to the special drawing Right (SDR) of the IMF, a currency that the IMF was created to served as an international reserve asset, and could incorporate technologies that are similar to crypto-currencies. “What we are going to examine, is how this currency (the SDR) can effectively use technology to be more efficient and less expensive “, she added. The IMF is seeking to carve a path into the world of crypto-currencies. The organization has a lot of hope for its ability to put in place a regulatory framework. Elsewhere, Christine Lagarde says that this makes sense simply because of the transboundary nature of this new space.

To truly understand the politics of the IMF concerning the crypto-currencies, here is an interview of Christine Lagarde on the american channel CNBC.

Source : Cointelegraph