Recently Christine Lagarde, the Head of the International Monetary Fund (IMF) spoke about the potential risks of Bitcoin and other cryptocurrencies and admitted that they also have positive sides as well. As Kristin Lagarde writes in the IMF blog, you can quickly transfer any amount of money with the help of cryptocurrency, .
“Some payment services now make foreign transfers within a few hours, not days,” she noted.
According to Lagarde, the technology of distributed registries can help financial markets operate more efficiently, and in developing countries will ensure the observance of property rights, increase confidence in the market and promote investment.
The head of the IMF also believes that the cryptocurrencies will lead to the “diversification of the financial landscape,” which will improve the balance between “centralized and decentralized service providers and a financial ecosystem that will be more effective and potentially more resilient in countering threats.”
At the same time, Christine Lagarde emphasizes that cryptocurrencies still need to win “the trust and support of consumers and authorities.”
“An important first step will be to reach a consensus on the role of cryptocurrency assets. Since they know no borders, international cooperation will be important, “she said.
As noted Lagarde, “a reasonable view of assets in the crypto currency should not lead to either crypto-conviction or crypto-euphoria.”
In March, the head of the IMF said that regulators need to use blockchain-technology to “contain the danger that the cryptocurrencies themselves have in their favor.”