IMF Launches Quasi-Cryptocurrency to Learn About Digital Assets

IMF and World Bank Launch Learning Coin to Learn More About Blockchain

“IMF and World Bank are using Learning Coin to create a learning hub of information involving distributed ledgers and cryptocurrency”

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By Block Society

The International Monetary Fund has created a private, quasi-cryptocurrency in order to better understand digital assets and asses their applicability in addressing economic issues. The IMF partnered with the World Bank to develop the “Learning Coin.” Learning Coin will have no value and is inaccessible to the general public. Only the IMF and World Bank will have access to the coin.

The IMF and World Bank wanted to better understand distributed ledgers, use cases for smart contracts and how to prevent laundering. The Learning Coin will be a learning hub for the IMF and the World Bank to further understand real world use cases involving digital assets.

The IMF and World Bank are both interested in learning more about how digital assets could be utilized to improve economic conditions in countries, especially ones that lack traditional banking infrastructure. Additionally, both organizations want to understand how laundering money by way of digital assets can be better addressed and prevented. 

Digital assets could create an easier way to provide immediate financial aids to countries experiencing emergencies or natural disasters. 

Wigglesworth, Robin. 15 April 2019. IMF and World Bank Explore Crypto Merits with Blockchain Project. https://www.ft.com/content/1cfb6d46-5d5a-11e9-939a-341f5ada9d40

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