IMF and World Bank Launch Own Crypto
Toshitimes.com - Mon 15 Apr 07:35 GMT

A recent report from the Financial Times is proposing that the International Monetary Fund (IMF) and the World Bank have jointly developed a private blockchain for future experimentation and exploration of the technology. What’s more, the two actors have repo…

IMF and World Bank Launch Own Crypto

  A recent report from the Financial Times is proposing that the International Monetary Fund (IMF) and the World Bank have jointly developed a private blockchain for future experimentation and exploration of the technology.

  This report first broke in April 12th, and suggests that the IMF and the World Bank have launched a so-called “Learning Coin” which is based on their private blockchain.

  Moreover, the Learning Coin is intended for internal use within the IMF and the World Bank as they experiment and explore blockchain technology.

  What’s more, testers at the IMF and the World Bank will supposedly be able to earn Learning Coins as the employees reach particular educational milestones.

  The Financial Times report also notes on the power cryptocurrency assets hold: As such, a successful trial might precipitate wider blockchain technology adoption by the IMF and World Bank, who supposedly might use the technology to launch smart contracts, use it to combat money laundering, and increase the overall level of banking transparency.