Benefits of Cryptocurrency

[tadex01]

Head of the International Monetary Fund (IMF) Talks About the Benefits of Cryptocurrency


In 2017, cryptocurrency came into the mainstream spotlight. Bitcoin soared to a record high of $19,783.06 (1318h 53m) (1318h 53m), and the entire crypto market surpassed 800 billion dollars. Prices have cooled off since then, but 2017’s crypto frenzy made it clear that digital assets are here to stay. World leaders are turning their attention to cryptocurrencies, including Christine Lagarde, the head of the IMF. In a recent blog post, she highlighted the benefits that cryptocurrencies bring to the table.

Before becoming the managing director of the IMF in 2011, Lagarde held various positions in the French government, including Minister of Economic Affairs, Finance and Employment, Agriculture and Fishing, and Minister of Trade.

Lagarde was ranked the 8th most powerful woman in the world by Forbes magazine in 2017. She is currently serving her second five-year term, following her unopposed re-election.

According to their about page, the IMF is composed of 189 countries looking to “foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world''.
Now it is apparent that she is turning her attention to cryptocurrencies, along with the rest of the world. On April 16th, 2018, Lagarde wrote a post on the IMF’s official blog. She highlighted decentralized assets’ potential to reduce transaction fees, especially with international trade.

Furthermore, she spoke about cryptocurrencies’ potential to increase efficiency, stating: The underlying technology of crypto-assets—distributed ledger technology, or DLT—could help financial markets function more efficiently. Self-executing and self-enforcing ‘smart contracts’ could eliminate the need for some intermediaries.

Lagarde made a note of some additional benefits:
-Crypto-assets enable fast and inexpensive financial transactions while offering some of the convenience of cash.
-Secure storage of important and sensitive records is a promising use of cryptocurrencies
-In developing economies, such advances can help secure property rights, increase market confidence and promote investment.

Lagarde’s Global Influence

Prior to any form of government regulation or acknowledgment of digital assets, public opinion of cryptocurrencies was iffy – however, as governments and international institutions begin to recognize crypto, they are becoming more legitimate in the public eye.

Although many crypto investors are dreading governments imposing heavy taxes and enforcing strict regulations, it may not be the end of the world – in fact, government regulation may be beneficial in the long run.

If large governments decide to take action and regulate decentralized assets, it signifies to the public that they are legitimate. Once cryptocurrencies are regulated by governments and backed by more traditional forms of currencies, people will feel safer investing in the new asset class.

As the head of the IMF, Lagarde’s words weigh heavily on international monetary policy. Her positive remarks are reassuring – hopefully, governments and citizens alike will continue to adopt a more positive opinion of cryptocurrency.

[pranazzs]

Useful info too.
benefits below I agree:

-Crypto-assets enable fast and inexpensive financial transactions while offering some of the convenience of cash.
-Secure storage of important and sensitive records is a promising use of cryptocurrencies

with low cost and safe storage is the dream of everyone!

[TravelMug]

Its just me thinking that Legarde is really anti-crypto based on her previous remarks? Yes, she is very influential and her words have a lot of weight specially for global economic, but I don't know if we can take her word for it. Because as head of IMF, I'm not totally sold of her being somewhat a crypto influencer.

[StarKay]

In addition to the points listed in the OP, another benefit of cryptocurrency is that it presents Start-ups with an opportunity to raise money through ICO from anywhere in the World something that is difficult to achieve with fiat.

[agusiska]

for me cryptocurrency is something that change my life to get better, i can make additional money besides my real job, now i can buy thing i cant buy yesterday.

[beigai]

The emergence of cryptocurrency is a revolution. I think it want to change more than just the financial sector. Even for many ordinary people, the change is very big.
So, I'm really happy to witness the emergence of cryptocurrency and get involved.

[aquantivis86]

"If large governments decide to take action and regulate decentralized assets, it signifies to the public that they are legitimate. Once cryptocurrencies are regulated by governments and backed by more traditional forms of currencies, people will feel safer investing in the new asset class."
while some governments rubber stamping their approval may be good for those of us who are already heavily invested doesn't it kind of go against the basic concept of it being about a decentralized currency without a central bank or government administration?

[norminorm]

As far as I am concerned IMF is a scam to put debt on poor countries and make there population modern slaves (work and pay there's country debt but to whom and why? while some dictator runs away with the money - and IMF knows that but still do it, this puzzles me about real intentions of this organization). all fiat system is a scam. you see what they try to achieve is to tap into the cryptocurrency money pit. regulations,regulations until we are left with nothing. we are good where we are and we should stick to all coins are that are pro decentralization , privacy and incognito and community build. monerov7, ravencoin

[loragean03]

In addition to the points listed in the OP, another benefit of cryptocurrency is that it presents Start-ups with an opportunity to raise money through ICO from anywhere in the World something that is difficult to achieve with fiat.

yes, raising money through ICO that is difficult to achieve in fiat is really true, but what if, that opportunity (ICO) you grabbing for is 100% scam and not a legit, for example. there is no benefits from that. although theres a really big opportunity in crypto but how about those ICO that soon to be scam? at some point when people heard scam on any coins/tokens in crypto, they will have a negative mind about that and this can be the result of massive FUD that creates a massive dump in crypto world in all newbie that wants to get involve on it.

[bundo]

If his words can be accounted for and actually realize his words to support cryptocurrency because his mind as already know the great benefits of crypto, Surely this becomes more value for the development of crypto. And this article is enough to increase knowledge at least I spend a little time to read it