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Author Topic: The international monetary Fund urged Central banks to issue digital currencies  (Read 339 times)
boss.afro (OP)
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November 17, 2018, 06:54:34 AM
 #21

This is big, this is much bigger than we think. IMF is an insanely big corporation, big enough to bail out countries that are on economic crisis, type of corporation that gives out tens of billions of dollars in loans to huge nations. This is not a small time bank or some tahiti sort of stuff.

If IMF is saying that banks should be getting decentralized digital currencies than that means the companies of the world and banks of the world are really close to getting crypto into their operations very soon. There is literally no more indicator needed to know that, if IMF is saying something, they don't say it out of their "wants" or whatever, they calculate it exactly and speak with math.

I was already gathering as much bitcoin as I can afford but right now I will do more to get more.

Yes, the IMF interbank large organization but sutu she plays no role in certain state banks, and no influence on decision-making within countries, so I even so I doubt that natsionalnyi banks of countries in the near future will be releasing his cryptocurrency.

Of course, all countries are going to digitalize their economy and all countries understand this, but when they come to cryptocurrency and whether they will come at all, we can only wait.

Are you really sure they don't have control over countries' decisions, policies and system?

Take a look what is happening right now between Argentina and the IMF.

Best,
Borja

Let's not be based on one country, we have 251 countries in the world and you want to say that the IMF has an impact on each of these countries ?
The IMF is a Bank for lending to countries and like any Bank it has its own rules for issuing this loan.
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November 17, 2018, 07:25:27 AM
 #22

It is the inevitable future! Banks will eventually have to move to the digital currencies whether they like it or not! However, please note the point that, these digital currencies will simple be a digital representation of the paper money and nothing else! So there's nothing to get excited about! Mark my word, that Banks will never support a semi-anonymous digital currency or decentralization, no country would approve this move. It's simply a number in your bank account instead of holding cold hard cash! Centralized and strictly  controlled by the governments!
I agree that it will be the same digital currency as now Fiat money, only the question remains how many will be issued.
This is so only about the countries who are dependent on the IMF and not about those who are not prone to regulations by the IMF. However it also depends on the degree to which a country depends on IMF. Anyhow, it might prove good for the economies that are struggling like Venezuela.
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November 18, 2018, 07:27:27 PM
 #23

If there is too many digital currencies than the market would get diluted a lot. Right now we already have a lot of shitcoins, now if there is some sort of crypto currency printed by UK or USA and all that than we would be fine but think about it there are hundreds of countries in the world and who would want to get a digital currency that is ran by somewhere like Oman or Pakistan and all that, nobody would want that.

So, IMF should focus that into bigger countries and instead of issue a new digital currency maybe adopt the already existing one into their playing field. That way for example UK can use Ethereum and its privileges and blockchain help into their society and make it much more easier for their population to do something, I don't know how they could use it but people have been playing cat games on ethereum so I guess a whole government can find something better to do.
boss.afro (OP)
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November 19, 2018, 06:56:11 AM
 #24

The idea of introducing cryptocurrencies by countries is very good if it is used in the investment sector for those countries that have been sanctioned by certain countries, in particular the United States, because there are many companies that want to invest but can not do it so that they do not fall under restrictions and do not get fines for doing business with such countries.
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November 19, 2018, 08:29:11 AM
 #25

Cryptocurrencies are the future and proactive people are seeing its worth. The advice from IMF is like endorsing cyrpto curreny usage. It is a very good move that will help the use of cryptocurrencies.
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