The international monetary Fund urged Central banks to issue digital currencies

[boss.afro]

Central banks around the world should consider issuing digital currencies, said on Tuesday, November 12 in Singapore, the head of the International monetary Fund (IMF) Christine Lagarde. Reported by the BBC.

According to her, digital currencies will help to make transactions more secure.

"I think we should consider the possibility of issuing digital currencies. The advantages are obvious. Your payment should be immediate, secure, cheap and potentially semi-anonymous. And Central banks will retain their role in making such payments," Lagarde said.

She also noted that the Central banks of Canada, China, Sweden and Uruguay are already "seriously considering" the possibility of launching a digital currency.

According to Lagarde, the virtual currency issued by the Central Bank, as well as cash, will be a liability of the state, not private firms.

"The more people will be served, the cheaper and more useful this service will be. Private firms may not pay enough attention to security, " she added.

She also noted that although the situation with digital currencies "is not universal", such an opportunity should be studied "seriously, carefully and with a creative approach".

source https://forklog.com/mezhdunarodnyj-valyutnyj-fond-prizval-tsentrobanki-k-vypusku-tsifrovyh-valyut/

[avikz]

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!

[boss.afro]

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.

[Kemarit]

Hmmm. Weird. This is Lagarde's official blog: https://blogs.imf.org/bloggers/christine-lagarde/ and I haven't seen anything as of late about her saying those things. Anyways, she seems to be open-minded though, but I'm under the impression that her opinion is still sort of in the gray area based on what I read about her stance on crypto and blockchain in here official blog. Well, its a welcoming news if she really thinks that countries should move forward and like experiment to have their own digital tokens or crypto backup tokens. Specially if someone transact with government like paying taxes and just using those coins and not the traditional fiat.

[cryptocrusher]

How would this work though, would it be interchangable with normal paper money? How would the money be distributed from central banks to normal people? I see great merit in the idea but I think it would have to be done on the private side instead of the public side. i.e banks adopting the blockchain in to their operations.

[davis196]

Hmmm. Weird. This is Lagarde's official blog: https://blogs.imf.org/bloggers/christine-lagarde/ and I haven't seen anything as of late about her saying those things. Anyways, she seems to be open-minded though, but I'm under the impression that her opinion is still sort of in the gray area based on what I read about her stance on crypto and blockchain in here official blog. Well, its a welcoming news if she really thinks that countries should move forward and like experiment to have their own digital tokens or crypto backup tokens. Specially if someone transact with government like paying taxes and just using those coins and not the traditional fiat.

I think that this is fake news.But anyway,Lagarde doesn't support bitcoin.She supports "central-bank-coins",and I think that those fakecoins will be a pure evil for the crypto world.
I really want the central banks to start buying bitcoins,but unfortunately this will never happen.

[MULTIK888]

This is very good news for the crypto currency, sooner or later everything goes to this. I also read this article today and I think that the governments of leading countries will soon start to look positively at blockchain and cryptocurrencies.
This should have a positive impact on the prices of cryptocurrencies in the near future.
If such high-tech countries as Japan, China, Korea will create digital currencies whose value will be somehow tied to the real money of the state, the cost of money will grow significantly as well as the cost of cryptocurrencies. Waiting for movement!

[dothebeats]

Well money would be digital in the future anyways so I think it's just fine for the Central Banks to study digital currencies first in order to serve the public better. Seeing the possibilities and improvements digital currencies bring to the table, it would be shocking if banks wouldn't jump ship in the future simply because they don't believe in it. Anyway though, this is not the whole of the IMF that 'urged' the central banks but only Lagarde, but then again it's already enough opinion to make banks think and reconsider digital currencies.

[boss.afro]

Hmmm. Weird. This is Lagarde's official blog: https://blogs.imf.org/bloggers/christine-lagarde/ and I haven't seen anything as of late about her saying those things. Anyways, she seems to be open-minded though, but I'm under the impression that her opinion is still sort of in the gray area based on what I read about her stance on crypto and blockchain in here official blog. Well, its a welcoming news if she really thinks that countries should move forward and like experiment to have their own digital tokens or crypto backup tokens. Specially if someone transact with government like paying taxes and just using those coins and not the traditional fiat.

The fact that she writes this with your unit perhaps, she should not write about all of this.
Especially the article is written if read carefully "reported by the BBC."

[boss.afro]

I think that this is fake news.But anyway,Lagarde doesn't support bitcoin.She supports "central-bank-coins",and I think that those fakecoins will be a pure evil for the crypto world.
I really want the central banks to start buying bitcoins,but unfortunately this will never happen.

So you do not think that this is false news here is a link to the international monetary Fund https://www.imf.org/en/News/Articles/2018/11/13/sp111418-winds-of-change-the-case-for-new-digital-currency there you can read the full text of the speech.

[Spaffin]

Central banks around the world should consider issuing digital currencies, said on Tuesday, November 12 in Singapore, the head of the International monetary Fund (IMF) Christine Lagarde. Reported by the BBC.

According to her, digital currencies will help to make transactions more secure.

"I think we should consider the possibility of issuing digital currencies. The advantages are obvious. Your payment should be immediate, secure, cheap and potentially semi-anonymous. And Central banks will retain their role in making such payments," Lagarde said.

She also noted that the Central banks of Canada, China, Sweden and Uruguay are already "seriously considering" the possibility of launching a digital currency.

According to Lagarde, the virtual currency issued by the Central Bank, as well as cash, will be a liability of the state, not private firms.

"The more people will be served, the cheaper and more useful this service will be. Private firms may not pay enough attention to security, " she added.

She also noted that although the situation with digital currencies "is not universal", such an opportunity should be studied "seriously, carefully and with a creative approach".

source https://forklog.com/mezhdunarodnyj-valyutnyj-fond-prizval-tsentrobanki-k-vypusku-tsifrovyh-valyut/

I am very surprised by this position of the International Monetary Fund. I thought that this structure will always be a brake on the development of cryptocurrency. Even the fact that the IMF calls on the central banks of the states to issue their own centralized cryptocurrency is still a big progress for the development of the entire cryptocurrency as a whole. There may be a hidden meaning in countering a decentralized cryptocurrency to a large number of centralized cryptocurrencies.

[omonuyak]

Blockchain technology is the future of our monetary system and the earliest our financial system regulatory authority understand this the better for All of us.  International monetary fund is the apex of the world monetary system and if there have started speaking something about this then we should be prepared for the digital currencies world in few years to come.

[ibrayzorhaf]

in my opinion the news of the existence of digital currencies issued by major countries is good news for us. Canada and China are countries that seriously respond to progress in economic development, including the digital currency. hopefully with this discussion it can be realized as soon as possible.

[boss.afro]

Blockchain technology is the future of our monetary system and the earliest our financial system regulatory authority understand this the better for All of us.  International monetary fund is the apex of the world monetary system and if there have started speaking something about this then we should be prepared for the digital currencies world in few years to come.

The fact that the IMF offers the Central banks of the countries to issue their digital currencies is certainly good, but I still doubt that this will be the case at least in the coming years.

[timotron]

I have been saying it for months!

Crypto is going to back-up illusionary money, replacing gold.
but is this a good or bad thing?

I don't like the idea very much...

[boss.afro]

I have been saying it for months!

Crypto is going to back-up illusionary money, replacing gold.
but is this a good or bad thing?

I don't like the idea very much...

I think it's good that we started talking at this level, but that doesn't mean it's going to happen right now.
As he wrote earlier it is not known how many years will pass when the Central banks of the countries themselves will come to this point and whether they will come at all.

[rickadone]

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.

[audaciousbeing]

This is surely where future money is headed because they would realise that the cost of printing and keeping safe the current fiat, would be so much that can be avoided if it can be virtual and that is what I see several countries implementing. Another reason is because they understand that the world is going digital with crypto currency and something needs to be done in other to still maintain control by having full grasp of the financial system.

But this should not by any way mistaken to be a news in support of bitcoin and other popular crypto currency but a simple government adopting current trend and still maintaining the status quo.

[boss.afro]

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.

[Lucusfoundation]

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