IMF Chief Christine Lagarde Second Blog Post regarding Crypto's

[Yaunfitda]

As you all know, last month Lagarde's discusses the dark side of crypto of which almost of all us see as an attack on crypto. However on her second official IMF blog post here: https://blogs.imf.org/2018/04/16/an-even-handed-approach-to-crypto-assets/, she seems to be very positive about crypto.

Fast, inexpensive

- Crypto-assets enable fast and inexpensive financial transactions, while offering some of the convenience of cash. Some payment services now make overseas transfers in a matter of hours, not days. If privately issued crypto-assets remain risky and unstable, there may be demand for central banks to provide digital forms of money―an idea we explore in the forthcoming Global Financial Stability Report.

- 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. Already, the Australian Securities Exchange has said it plans to use DLT to manage the clearing and settlement of equity transactions.

- Secure storage of important records is another promising use for DLT. Healthcare companies are studying how to use the technology to maintain confidential medical data while providing access to insurers and other authorized users.

- In developing economies, such advances can help secure property rights, increase market confidence and promote investment. In Ghana, where property ownership is often the subject of disputes, a DLT-based platform called Bitland promises to help solve the problem by securely recording land sales.

Looks like a strong word coming from her. We all know how she can impact the economy of a lot of countries. So I'm sure that with this kind of statement, I wouldn't be surprise if crypto in the next coming days will at least get a good pump. What do you guys think?

[1714832153]

1714832153

[1714832153]

1714832153

[btc_angela]

I agree that she has so much influence because of her position, but I don't know if investors will suddenly pump the market with her statement. She can't really takes side on this one, she is merely pointing out the advantage of crypto which we all are aware of. Let's see how it goes, her statement is like 2 days ago and prior to that we have been seeing some gains so I don't know if her statement have huge impact so far.

[SuperD007]

IMO she is part of the problem not part of the solution.

She is probably only saying positive stuff about crypto now to server her own agenda or the agenda of her handlers.

The IMF are a bunch of skanks. The skankiest skanks of them all.

[bitart]

I agree that she has so much influence because of her position, but I don't know if investors will suddenly pump the market with her statement. She can't really takes side on this one, she is merely pointing out the advantage of crypto which we all are aware of. Let's see how it goes, her statement is like 2 days ago and prior to that we have been seeing some gains so I don't know if her statement have huge impact so far.

It's about crypto, in general. But I think they won't do anything with bitcoin or ethereum, if they want to help the governments, they will develop their own crypto and they will force the countries to use that crypto when it's about an international transaction. So despite of this statement is not against bitcoin directly, it's not supporting it either.

[ManaMan]

Looks like a strong word coming from her. We all know how she can impact the economy of a lot of countries. So I'm sure that with this kind of statement, I wouldn't be surprise if crypto in the next coming days will at least get a good pump. What do you guys think?

Market can not be that simple that somebody can make huge impact on the price. Of course pump could happen but I just don't think she is possible of pulling that much money into crypto. It is good to see her however switch her opinion as people might see crypto differently.

[darkangel11]

Looks like a strong word coming from her. We all know how she can impact the economy of a lot of countries. So I'm sure that with this kind of statement, I wouldn't be surprise if crypto in the next coming days will at least get a good pump. What do you guys think?

You seem to believe that a positive opinion erases earlier negative opinions. It doesn't work this way!
Crypto market is fearful and if someone influences it negatively at the time of depression it seems to have a much greater impact than the same news during the euphoria,
At the same time good news during rises have a greater positive impact.
Since we are in the bear market now her statements won't nullify themselves. The negativity towards her will prevail and people will remain suspicious. You can even see it in the forum comments under your own post.

[dE_logics]

As you all know, last month Lagarde's discusses the dark side of crypto of which almost of all us see as an attack on crypto. However on her second official IMF blog post here: https://blogs.imf.org/2018/04/16/an-even-handed-approach-to-crypto-assets/, she seems to be very positive about crypto.

Fast, inexpensive

- Crypto-assets enable fast and inexpensive financial transactions, while offering some of the convenience of cash. Some payment services now make overseas transfers in a matter of hours, not days. If privately issued crypto-assets remain risky and unstable, there may be demand for central banks to provide digital forms of money―an idea we explore in the forthcoming Global Financial Stability Report.

- 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. Already, the Australian Securities Exchange has said it plans to use DLT to manage the clearing and settlement of equity transactions.

- Secure storage of important records is another promising use for DLT. Healthcare companies are studying how to use the technology to maintain confidential medical data while providing access to insurers and other authorized users.

- In developing economies, such advances can help secure property rights, increase market confidence and promote investment. In Ghana, where property ownership is often the subject of disputes, a DLT-based platform called Bitland promises to help solve the problem by securely recording land sales.

Looks like a strong word coming from her. We all know how she can impact the economy of a lot of countries. So I'm sure that with this kind of statement, I wouldn't be surprise if crypto in the next coming days will at least get a good pump. What do you guys think?

The media will report "IMF Chief Craps on Cryptocurrencies," but her saying anything positive about it won't see the light of day in the mainstream financial media.

[KyleSpades]

- 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. Already, the Australian Securities Exchange has said it plans to use DLT to manage the clearing and settlement of equity transactions.

I know most of you have pessimist opinions about her previous statements (as do I), but I believe this particular topic has special importance for ETH's popularity. It almost seems like a direct "propaganda" of sorts...

I've actually heard that Santander (again, that Ripple mfckr) has been reportedly investing in smart contracts to save costs and etc.:

Santander Bank’s innovation fund, Santander Innoventures, expects blockchain technology to lead to $15 – $20 billion in annual savings in infrastructure costs by 2022.6

Source: https://blockchainapac.fintecnet.com/uploads/2/4/3/8/24384857/smart_contracts.pdf

Not sure if this data relates to Ripple's tech or some other ETH related stuff, but all of these indicators might show extra motivation on ETH markets in the near future (specially if more banks other than Santander start making some smart moves).

Be it for better or for worse, statements such as this one OP has brought up are important news nonetheless.

[Xester]

If she had discussed the dark side if bitcoin its because it is the truth and a part of bitcoin history. Lagarde is unbiased when it comes to discussing cryptocurrency she will tackle both positive and negative truths about this reality. But in the end its good that everything went well and eventually his speech is actually and advantage to bitcoin.