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Would a state-backed cryptocurrency be better than its decentralized counterpart? International media has already rolled out their opinions on the matter. It’s a YES-IT-CAN. The opinions find their inspirations in comments made by Christine Lagarde last week. The head of the International Monetary Fund (IMF) said that a government-backed cryptocurrency...
Speaking at the Singapore Fintech Festival this week International Monetary Fund head, Christine Lagarde, said that governments and central banks should work towards setting up their own digital currencies. Centralization, Control and Regulation Recommended She added that a central bank regulated system could become the starting point for...
Ripple CEO’s has sat down with Ross Leckow, IMF’s Deputy General Counsel, to talk about blockchain technology at the Singapore Fintech Festival. Both agreed that the distributed ledger will change the world of global payments as the International Monetary Fund engages with the private sector and industry to help...
Christine Lagarde, head of the International Monetary Fund (IMF), said the world is on the verge of another financial crash. The increased cybersecurity risk coming from the rapid development of financial technologies such as digital currencies is a reminder that the permanent evolution of the financial system requires...
The financial system is still under a lot of pressure. Since the financial crisis of 2008, very little has changed to alleviate existing concerns. IMF chief Christine Lagarde acknowledges the global economy is not in the best of places right now. Additionally, she remains optimistic about the future...
The International Monetary Fund has reported that the global debt has hit $164 trillion marking a trend that could lead to a catastrophic recession if countries fail to pay off debts due to strict financing conditions. IMF Report Warns of Huge Global Debt The IMF said in its semi-annual...
The cryptocurrency ecosystem has found an unexpected backer in the International Monetary Fund. The organization is asking the world’s central banks to be open-minded about digital money as they should “distinguish between real threats and needless fears”. IMF Wants to Help Develop Cryptocurrency Regulation Christine Lagarde, Managing Director...
In efforts to fight against the volatility that comes with most cryptocurrencies, a group of famed economists and financial innovators have plans to create “the first non-anonymous blockchain-based digital currency,” called Saga (SGA). Saga is being developed by The Saga Foundation, a Swiss non-profit established last year that is dedicated...
We have witnessed dozens of global attempts to regulate cryptocurrencies in recent years. None of these efforts have been positive whatsoever. South Korea now urges other countries, as well as the IMF, to curb cryptocurrency trading. An interesting stance, although it may turn out rather positive for the...
Interesting things are happening in the world of traditional finance these days. China, while often seen as a prosperous economy, has received a stern warning from the IMF. The country needs to address their corporate debt levels before things spiral out of control. This will put a lot...
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