The International Monetary Fund urges banks to pursue blockchain investment before they face irrelevancy in the face of a competing fintech industry.
A staff discussion note from June 2017 provides evidence of the IMFs position on cryptocurrencies, as they move to adapt and promote adoption.
The Director of the IMF Christine Lagarde has previously praised blockchain technology for the savings and speed it offers the financial services industry. Her comments were made back in 2016 at the World Economic Forum in Davos where she presented a report entitled “Virtual Currencies and Beyond”. This new note covers much of the same ground, discussing issues such as the “blurred boundaries”, issues of “trust” and the competitive emergence of the fintech industry… (Continue Reading – Click Here)