A report published by the International Monetary Fund (IMF) outlines that 15 different countries are considering joining the global fintech trend and adopting central bank digital currencies (CBDC) as a method of payment. The IMF has emphasized two main reasons for such a decision in the report.
The International Monetary Fund (IMF) refers to digital currency just once in its 215-page World Economic Outlook for October 2018, but that reference is: "Continued vigorous growth of digital currency assets could form new vulnerabilities in the international financial system (IFS)."
Fluctuations in the cryptocurrency market continue to happen. Bitcoin’s price, as well as other cryptocurrency prices, have recently increased. The move is seen as a result of IMF boss Christine Lagarde’s new perspective on the blockchain technology behind digital currencies.
Cryptocurrencies are being called the future currency by some people or just an intermediary currency by others within the crypto community itself. There is no consensus right now on what the future role of cryptocurrencies will be in the world, but they are going to be huge, that’s for sure.