Posts Tagged ‘settlement’
“Citizens may one day prefer virtual currencies, since they potentially offer the same cost and convenience as cash—no settlement risks, no clearing delays, no central registration, no intermediary to check accounts and identities” — Christine Lagarde
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Christine Lagarde says people may prefer virtual currencies to cash because they offer some of the same benefits as cash, according to the article. Specifically, virtual currencies like cryptocurrency potentially offer the same low costs and convenience as cash, without the drawbacks of cash like settlement risks, clearing delays when making transactions, and the need for intermediaries to verify accounts and identities. So in summary, Lagarde believes virtual currencies could be as easy and inexpensive to use as cash, without certain transactional problems associated with physical money.