It is just another news that showboats how amazing crypto and bitcoin is (blockchain as well of course) in improving our system but not the way we want to. They are focusing on how strong the technology behind it is and how they could make transactions much faster much reliable and a lot cheaper, this is not what we focus on.
If a bank starts to deal with blockchain tomorrow and do all their transactions in bitcoin or whatever coin they want and make a lot more profits thanks to the savings they had from moving from old system to blockhain that would somehow affect us ? No, that would only increase the bonuses of the CEO's and that is it, we wouldn't see any benefits from it, banking is a system where it needs to keep the profits high at all times and we need to break that cycle with bitcoin, not help them, destroy them.
Topic: ‘In Crypto We Trust’: Circle CEO Pumps Blockchain at IMF Meeting - page 2. (Read 348 times)
Digital payments doesn't mean Bitcoin payments. We're obviously heading towards less and less cash-based transactions in commerce but whether Bitcoin (or any other crypto) catches on among consumers and businesses is still an open question. The issue for consumers doesn't seem to have much to do with fiat money at all, just convenience (digital vs paper or plastic). And everyone can acknowledge that Bitcoin represents a tiny drop in the ocean of the payments industry.
If someone is interested to watch this IMF meeting, it's an interesting one https://meetings.imf.org/en/2019/Spring/Schedule/2019/04/10/imf-seminar-money-and-payments-in-the-digital-age?cid=sm-com-tw-DigitalPayments
“Banks will have to adopt to survive, or disappear.”
I agree with her and the trend is "digital" she admits it... Bitcoin and other cryptocurrencies fit exactly in this trend of a digitalized economy and she should start to realize and admit that.
“Banks will have to adopt to survive, or disappear.”
I agree with her and the trend is "digital" she admits it... Bitcoin and other cryptocurrencies fit exactly in this trend of a digitalized economy and she should start to realize and admit that.
Circle CEO Jeremy Allaire touted the benefits of cryptocurrency at Wednesday's IMF meeting. | Source: World Economic Forum/YouTube
There is little doubt that digital payments tools – including bitcoin and other cryptocurrency projects – are transforming the way consumers make transactions. However, even the best digital technologies will fail if users don’t trust them.
This was the resounding message at the International Monetary Fund’s spring meeting held in Washington, D.C. on Wednesday.
Lagarde: Consumers Are Dumping Their Cash
Called “Money and Payments in the Digital Age,” one discussion included representatives from central banks and tech startups. Panelists shared their thoughts about how the economy was being reshaped by cryptocurrency and other digital technologies.
IMF Managing Director Christine Lagarde noted that cash usage is on the decline in countries around the world. For example, in Sweden a mere 13% of transactions were settled in cash last year, she said.
Consumers increasingly use their smartphones to make purchases with digital payment platforms, even if bitcoin hasn’t quite caught on as a payment instrument.
CCN | https://www.ccn.com/in-crypto-we-trust-circle-ceo-pumps-blockchain-at-imf-meeting
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