"Opinion" Christine Lagarde: Ignoring virtual currency "may not be wise"

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Author: nikhilesh De translator: Ina

Christine Lagarde, president of the International Monetary Fund (IMF), Christine Lagarde that virtual money could pose a challenge to government-issued traditional currencies.

Ms Lagarde told attendees at a London meeting that she thought "ignoring virtual money may not be a sensible thing to do".

Notably, she noted that countries with "weak institutions and unstable monetary conditions" might be more directly receptive to such currencies.

"These countries will not adopt another country's currency, such as the dollar, and may use the virtual currency more." ”

One of the drivers of this potential development will be that consumers are more inclined to use the emerging currencies that are "convenient and safe" than the existing currency. If the virtual currency "can become more stable", then this situation may be further promoted.

Lagarde also said:

"So in many ways, virtual money may pose a challenge to existing monetary and monetary policies." The central bank's best response is to continue to implement effective monetary policy and to embrace new ideas and new needs as the economy grows. ”

Ms Lagarde said earlier in her statement that the virtual currency was "too volatile, too risky, too energy intensive, and that its underlying technology was not yet scalable", so it would not really threaten the traditional currency for the time being.

So far, the IMF has advocated a balanced approach to crypto-currency regulation, a position that has been expressed in a January 2016 employee document. Ms Lagarde also expressed support for blockchain financial applications, a subject that the IMF explored at the organizational level.

This article only represents the personal opinion, does not represent the block chain pencil position, does not constitute the investment proposal, the content is only for the reference.

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