The head of the International monetary Fund (IMF) Christine Lagarde said that regulators need to use blockchain technology for “containment of danger along with benefit carry cryptocurrency”.
“Innovation, the underlying scriptactive can help to regulate them. In other words, we can knock out a wedge a wedge”, wrote Lagarde in the IMF blog.
The head of the IMF noted that the cryptocurrency can easily cause financial instability and is also used for the financing of terrorism and money laundering. According to Lagarde, the cryptography and the technology of the distributed registry can be used to control digital assets at the international level.
“To ensure the security of online transactions requires that [market participants and regulators] was smooth and fast communication channels. Technology international transactions that can help in the creation of registries verified information with digital signatures. More efficient work with data can also help to release resources for priority tasks and to reduce cases of tax evasion”, — said Lagarde.
She also added that cryptography, along with an artificial intelligence and biometrics, can be used to “clean up the cryptocurrency ecosystem from pollution”.
According to Lagarde, these technologies “may help to improve digital security and identifying suspicious transactions in real time.” This will allow law enforcement agencies to respond quickly and block illegal transfers, I’m sure the head of the IMF.
Earlier, Christine Lagarde said that the Fund is actively trying to prevent the use of bitcoin and other cryptocurrencies for money laundering and financing of terrorism.