According to reports, the Financial Times, the IMF and the world Bank launched a joint private blockchain and the so-called quasicrystallic. The asset called “Learning Coin” will be available only within the IMF and the world Bank.
The coin has no cash value and, therefore, is not a real cryptocurrency. Financial institutions took this step for a detailed study of the technology of the blockchain, which is the basis of scriptaction.
A special application will serve as a Central storage platform, blogs, studies, videos and presentations on this topic.
During testing the staff of the world Bank and IMF will earn coins for achieving certain educational milestones. Agencies will allow you to exchange the assets received in compensation. This will help you better understand how coins can be used in real life. According to the IMF, banks and regulators around the world need to explore the aspect of technology because of their rapid progress.
“The development of scriptactive and technologies of distributed registries is happening very rapidly. The amount of information also increases. This forces Central banks, regulators and financial institutions recognize the growing gap in awareness between legislators, politicians, economists and representatives of the technical sector.”
In addition, after proper validation it will be possible to use a blockchain for smart contracts, anti-money laundering and improve transparency.
Last week IMF managing Director Christine Lagarde said that “the blockchain-the subjects cut the ground from under the feet of traditional financial institutions,” and therefore they need special control. She also noted that the potential of blockchain technologies and assets already in use by regulators and Central banks, and they recognize the positive effect.