IMF and World Bank Learns Blockchain with Learning Coin!
Matthew Lam Apr 14, 2019 16:00
According to the Financial Times on 12 April, the World Bank and the International Monetary Fund (IMF) have partnered up to launch a private blockchain and a quasi-cryptocurrency dubbed “Learning Coin”.
According to the Financial Times on 12 April, the World Bank and the International Monetary Fund (IMF) have partnered up to launch a private blockchain and a quasi-cryptocurrency dubbed “Learning Coin”.
The Learning Coin is a quasi-cryptocurrency which has no monetary value and its access is only limited to IMF and the World Bank. World Bank and IMF staff are rewarded with Learning Coin when they achieve certain educational milestones. In addition, the coin served as a tool for IMF and World Bank to better understand the real-life application of crypto assets. The World Bank and IMF reportedly claimed that they might explore more blockchain use cases such as launching smart contracts and uses blockchain to fight against money laundering.
Followed by Christian Lagarde on the potential of distributed ledger technology, IMF made the following statement “The development of crypto-assets and distributed ledger technology is evolving rapidly, as is the amount of information (both neutral and vested) surrounding it. This is forcing central banks, regulators and financial institutions to recognize a growing knowledge gap between the legislators, policymakers, economists and the technology.”
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