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The International Money Fund (IMF) is partnering with the World Bank to create a new cryptocurrency, Learning Coin, reports NewsBTC.
Learning the tech
This situation is a bit ironic, as Christine Lagarde, chairwoman of the IMF, made fun of Bitcoin (BTC) and digital assets as a whole recently. Regardless, her project is called Learning Coin. The asset exists for this group to learn more about blockchain and its use case.
As of this writing, the plan is for this asset to stay within the hands of these two companies. In fact, the Learning Coin is barely a crypto asset at all. It’s really just a way for the teams to educate themselves on smart contracts, use case, and the blockchain technology as a whole.
Essentially, the two groups are incentivizing their employees with the Learning Coin by rewarding the ones who educate themselves. Later on, the workers will be able to earn rewards for achieving certain goals.
Crypto is doing well regardless
Again, it’s quite odd that the company is embracing crypto after Lagarde’s recent comments. She did so during a talk with NBC, stating that “anything that is using distributed ledger technology,” primarily crypto assets and their derivatives, are “clearly shaking the system.”
Confusingly so, she says that she is excited about Bitcoin’s use case. But, she worries that it could “shake the system so much that we could lose stability”.
So, it’s possible that the chairwoman put this asset into place for her to learn more about cryptocurrencies despite her apparent view on them all. That and it’s also a way for the IMF and World Bank to view how companies can handle digital assets as a whole. It’s also possible they’re working on a closed cryptocurrency simply to see how they work within a business ecosystem. She comments on this as well, saying that financial companies “will have to be held accountable so that they can be fully trusted”.