Not too long ago, has not commented the Head of the International monetary Fund (IMF), Christine Lagarde, is particularly positive about crypto-currencies. In her blog post, she explained currencies, the “dark side” of Crypto, and referred to this as a vehicle for money laundering and terrorist financing.
In your latest post you illuminated however, the benefits of crypto currencies and the Blockchain and presents this in a positive light.
The Blockchain can be more than money laundering and financing of Terrorism
Through the Dotcom bubble, some companies have merged, have permanently changed our lives. In Lagarde’s eyes the can now apply for Blockchain-technologies that will prevail in the long term.
The IMF Chief also dealt with some of the advantages and use cases: cryptocurrencies and the Blockchain allow for quick, efficient and effective transactions, and also in the abroad. As long as private crypto-currencies are still risky and unstable, it can give Lagarde a demand for digital money, which is issued by the Central Bank. The IMF will discuss the next stability report in more detail.
In addition, she called the safe storage of information and recording, especially in the medical industry is important. With the help of the Blockchain ownership rights of people in developing countries can be also secured. This would increase the confidence in the market and to encourage Investments.
Decentralization can lead to better diversification of the financial sector. And in order to a financial system that is more efficient and potentially more robust against threats.
“The hope is that decentralized applications, driven by crypto-Assets, can lead to a diversification in the financial world. A better Balance between centralization and decentralization can lead to a more efficient and robust financial system.“
Regulation according to the IMF Boss is still a Must
Before crypto-Assets change, however, the financial conduct sustainable, they must win the trust and support of consumers and authorities.
Even if Ms. Lagarde is not in the past had the best words for crypto-technologies left, its recognition is an important step in the right direction. In their opinion, they will be based, some of the people and the crypto world a Chance. Thus, according to Shiller the second critic, the rises this week a light.