A new IMF report on the topic of Bitcoin, Altcoins & risks
Home News New IMF report on the topic of Bitcoin, Altcoins & risks
Matthias Nemack –
While the IMF Fintechs and digital payment see methods as a model for the future, currencies are specialists in Crypto remains critical.
New Report of the IMF is also dedicated to crypto-currencies
With all the criticism of Facebook’s announced currency Libra in the USA and Germany have fairly neutral opinions is almost a rarity. Although the Libra-in-chief, David Marcus, in his opinion, before the US Congress is clear: Facebook dispensed with banking services. Also, the System should provide a data exchange with, for example, Facebook. After the harsh words of the US financial Minister and the US President, the German Federal Minister of Finance, made his Concerns about the risks to the state currency monopoly of the air. Now there is also a feedback of the International monetary Fund. These are, however, generally on digital currencies such as Bitcoin or Ethereum. On the edge but it is this day, always to the risks and opportunities of the Libra offer.
Digital currencies as risk and opportunity at the same time
A recent analysis paper, the IMF attested that the digital currencies have the potential to be a substitute for cash and traditional Bank deposits. Not read the above-mentioned politicians like to see opportunities for the crypto-trade, at least partially, preferably generally prohibited. The IMF warns, although as usual the dangers to consumer protection and the stability of the financial system, as before, the German Finance Minister, Olaf Schulz formulated in a similar way. Nevertheless, the IMF experts imagine that Bitcoin as a digital money concepts in the future to a greater extent competitors of the banking industry or credit card companies can. The international monetary Fund announced this week, in further analyses in more detail with the crypto currencies and the associated systems employ.
Digital money could replace cash soon
The competitiveness of the Fintech service providers in General, it looks to be at least as given in the publication under the name of “Fintech Notes”. What is the role of Cryptocurrencies in the end as a separate part of the digital financial sector, to show the upcoming evaluations. “E-Money” in any case, as a digital storage model will play a Central role. Because, in particular, consumer-friendly, compared to the business models of credit card providers or banks. The Stablecoins, the IMF report met with skepticism. Despite the popularity of companies such as U.S. Bank, JP Morgan, these kind of digital currency applicable to the structures of the state could threaten monopolies. Especially weak currencies could be affected. It currencies is in the report so both positive as well as negative notes to the rapidly growing industry of digital currencies around Bitcoin, Litecoin and countless other Crypto.
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