Benefits of Cryptocurrency
Useful for Transactions and as a Balancer in the Financial Sector
The main benefit of cryptocurrency is to open the possibility of fast and cheap financial transactions . But on the sidelines of the writing, Lagarde stressed that the risk of crypto assets will remain high if the release is private. This indicates the tendency of Christine Lagarde’s support for official digital currencies, such as Petro Venezuela or the concept of digital money that is still planned by the Government of China and Russia.
After suggesting global cooperation to realize increased security of cryptocurrency assets, Christine Lagarde admitted that there were many crypto currencies in circulation and said,
“It seems inevitable that the more crypto that is circulating at the moment, the more people will not survive the process of purification. Enduring Cryptocurrency assets will have a significant impact on how we save, invest, and pay our bills . That is why policy makers must remain open minded and can form a fair regulatory framework to minimize risk. “ Lagerde then continued
Further points discussed by Lagarde are the potential balance in the financial sphere . There is hope that decentralized applications (D-Apps) driven by crypto technology will lead to diversification in the financial sector. A good balance between conventional and decentralized service providers will be created, and enable a more efficient financial ecosystem.
Regarding stability issues, Lagarde revealed that crypto is still very vulnerable to volatility , because the scope is still very limited. The head of the IMF also called on regulators to remain vigilant about the potential for crypto currencies that could increase trade risk.
That’s the article about crypto currency or also called cryptocurrency.
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