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BruceWhale

IMF article instant payments

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From November 2018.

Still, pretty incredible how closely this lines up with Ripple's vision. If anything close to this occurred using ILP... it would totally change the game for XRP.

https://www.imf.org/en/search#q="individuals could hold regular deposits"&sort=relevancy

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15 hours ago, BruceWhale said:

But it is definitely concerning cryptocurrencies.

And definitely NOT BTC which is great :)

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The IMF appears to have a clear vision about where it wants to go. But the argument at the level of national governments seems to be getting stuck on the smaller question of what to do about cash. It is here things will get messy. Cash is being identified as the problem in the super low interest world we are presently in, as its very existence is creating a floor stopping rates going into negative territory. Which is where many argue things need to go to halt our trajectory toward a global recession. So if we say: ok, let’s limit cash, politicians then say: and also we need to ban bitcoin (this type of statement is a proxy for all crypto currencies I think) and so they conflate the issue. As I say, messy.

BTW, this is an Australian perspective. Small beer compared to the heavy hitting politics of the US and the future role of the US dollar in global trade and politics within the context of the IMF vision

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21 hours ago, Danny said:

@Johno not sure if this applies to your remark about cash being the problem in the super low interest world, but I read that the IMF has floated the idea of creating 2 separate currencies: e-money and cash. 

https://www.finextra.com/newsarticle/33410/imf-wonks-suggest-separate-cash-and-e-money-to-enable-negative-interest-rates

Very interesting one. I think the IMF knows what it wants to do and even how it can be done but as that article also flags national governments will not make it easy. This is because even well intentioned politicians struggle to get their heads around the issues.  My above reference to conflating bitcoin and cash was in the attached link

Analysis: This is why the IMF wants to stop you from using cash
http://www.abc.net.au/news/2019-08-26/cash-ban-so-you-pay-the-bank-to-hold-your-money-what-imf-wants/11443646

 

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