IMF Director Tells Banks: Do Not Worry about Bitcoin & Blockchain

Christine Lagarde, the managing director of the International Monetary Fund (IMF) addressed bankers to say that banks and financial institutions do not have to worryIMF
about bitcoin or the blockchain.

It’s that time for global financial figures to be dismissive of Bitcoin and its underlying technology, the block chain.

IMF Chief Christine Lagarde quelled bankers’ fears of the blockchain posing a threat to the current banking industry in banking conference at New York

As reported by The Financial Times, Lagarde said:

Many of you have heard about not only bitcoins but blockchains and that unbelievable technology that underlies the Bitcoins of this world at the moment, and how incredibly convenient it will be to actually generate trust and identify players and whatever pseudo they decide to use.

She continued, adding:

And many of you in the industry are actually worried that those technologies are going to massively disrupt the current industry.

Lagarde’s comments referenced an FT article about a potential pyramid scheme stacking up in a

Read more ... source: TheBitcoinNews