Hello guys! For those of you that don’t know, the International Monetary Fund recently organised a meeting in Washington DC with a centre point ‘money and payments in the digital age’. Speakers included the IMF’s Christine Lagarde, Circle’s CEO Jeremy Allaire and others.
Today we will bring you some of the key talking points and significant comments made.
Without quoting exactly what was said, Jeremy Allaire made points on global reserve currency, digital currencies and tokenisation. He also mentioned the W3C and how everyone trusts the internet, the framework, the governance and the model around it. He literally said everything he needed to say without mentioning the fact that the W3C are in control of the interledger protocol and what it does. Why not say it? They’re being extremely selective so they do not let too much information slip.
However, for us, members of the crypto community, we can decipher these messages and most definitely enjoy the positive comments.
They also spoke about digital SDR’s. The Special Drawing Right (SDR) was created by the IMF as a supplementary international reserve asset in the context of the Bretton Woods fixed exchange rate system.
The issue of the Triffin’s Dilemma and global liquidity problems was never going to be solved with only Fiat currencies in the current system. This SDR basket may have to become a basket of CBDC’s tokenized as currencies or simply just XRP instead of a basket of currencies. However, this directly contradicts the need for a level playing field so that means it can’t just be XRP. What people mustn’t forget though is that XRP and XRPL is on all the documentation for the interledger protocol and was even created by the same people.
So, we have the digital special drawing right’s and this is likely to become a basket of digital currencies so that there is a level playing field. It needs to be fair and their needs to be competition to breed evolution and healthy innovation so we can move forward, progress, and thrive. XRP is not only going to be the first major crypto in this basket, it will be the standard.
Be sure to check out Scott’s video on this topic as well as the video of this discussion on the Love For Crypto channel.
That’s it for today guys, go get yourself some of what is soon to be the standard bridge asset and let everything else unfold right before us. Be back soon with some more content!
Written by Dominic Zohreh
Twitter – domz_invests
Instagram – domz_invests
Scott’s video on this topic -
Love For Crypto Twitter – Loveforcrypto17
Love For Crypto Instagram – Loveforcrypto17
