The IMF wants to promote the development of digital currencies advance, 700 billion dollars Stellar Investment Fund

Some of the countries in the world have already introduced a digital national currency, or to work meticulously to its development. The IMF Chief has now called again to create a regulatory basis for digital national currencies in the long term launch.

The path seems clear: digital currencies to replace the cash and “terrorism and money laundering” of effective combat. The brökelt this long-standing Argument, however, in many areas, we have described in the past often. Christine Lagarde, since the Head of the international monetary Fund (IMF), has called for the Committee on economic and monetary Affairs of the European Parliament in a statement as a matter of urgency that the development of new technologies (e.g. it must be ensured that the Blockchain) and translated open for “opportunities and potential” (free):

In this environment, the Central banks and Supervisory authorities must ensure the safety of the financial sector, but also open to the opportunities of the change.

In the case of new technologies – including digital currencies – this means that one is aware of the risks in relation to financial stability, privacy, or criminal activities and to ensure that appropriate regulation is in place to direct the technology in the direction of the common good. But it also means to recognize the wider social Benefits of innovations, and to give them space for their development.

Lagarde stops to learn, especially from institutions that are in daily contact with the monetary policy and all of the other financial flow of stakeholders. Understand the mechanism of money and the actual consequences of the best (freely translated):

There is much to learn from those who see different aspects of the monetary policy in your daily life, be it trade unions, consumer groups, NGOs or other civil society partners. Apart from the regular accountability hearings before the house and Listening can strengthen their voices to the policy of the ECB only.

Lagarde expressed, in the past, a positive view of digital currencies, and referred to Ripple and Circle as a helpful financial actors, which promote the developments and place for creating innovations. However, she called for more crypto-currencies as a potential “confounding factors” that must be adequately regulated.

China is a first world economy is a digital national currency makes import that Mu Changchun, Deputy Director of the PBOC’s Department of payment and payment processing, announced in mid-August in a Letter. According to the report, the project is already 5 years in development, but the launch should be carried out at the beginning of the year 2020. A special Blockchain, which is designed for a high transaction rate, i.e. number of transactions per second process should be able to.

This is for a population of 1.4 billion people (tendency upwards) is necessary. What are the actual influences of this development on China and the world economy remains to be seen.

717 billion investment Fund on Stellar network

The American asset Manager Franklin Templeton is planning the edition of a state-owned securities investment Fund, based on the Stellar network. The company is managed according to an asset in the amount of 717 billion USD and has submitted to the SEC a verläufige statement about the use of this Stellar technology – (freely translated):

Although the transfer agent of the Fund will result in the official record of share ownership in the form of a book, is recognised in the ownership of the shares of the Fund in the Stellar network, an electronic Distribution Ledger, the cryptographically so-called “Blockchain is secured (“).

The Fund will use the Blockchain technology as a data management Tool to track the ownership of its shares and to verify, but he will not be an investment vehicle for crypto-currencies like Bitcoin (freely translated):

The Fund will not invest in crypto-currencies (including virtual currencies). At this time, shares of the Fund is currently not for purchase, sale or Transfer by a shareholder to another shareholder (or potential shareholder) (“Peer-to-Peer”) in the block chain or on a secondary trading market available.

The investment Manager of the Fund is of the view that block chain-based share offer to the Fund shareholders more transparency and, in the future, shorter processing times and other benefits for the Fund shareholders may allow.

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