Christine Lagarde: Central Banks Digital
on Friday, October 6, 2017Christine Lagarde Money Quote saying as Director of IMF, that people may ask banks to provide stable on reliable cryptocurrencies if private forms don’t stabilize. Christine Lagarde said:
“If privately issued virtual currencies remain risky and unstable, citizens may even call on central banks to provide digital forms of legal tender” — Christine Lagarde
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Christine Lagarde said that citizens may call on central banks to provide digital forms of legal tender if privately issued virtual currencies remain risky and unstable.
Central banks providing digital currencies could offer citizens a safer and more reliable payment option compared to private cryptocurrencies that are volatile in value.
Some of the reasons citizens might want this are for stability of payments, security of funds, and usability of money in both online and offline transactions.