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IMF Head Foresees the End of Banking and the Triumph of Cryptocurrency



In a remarkably frank talk at a Bank of England conference, the Managing Director of the International Monetary Fund has speculated that Bitcoin and cryptocurrency have as much of a future as the Internet itself. It could displace central banks, conventional banking, and challenge the monopoly of national monies.

Christine Lagarde–a Paris native who has held her position at the IMF since 2011–says the only substantial problems with existing cryptocurrency are fixable over time.

In the long run, the technology itself can replace national monies, conventional financial intermediation, and even “puts a question mark on the fractional banking model we know today.”

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Sami Mebazaa

Innovation Director at Talan
Sami is eager to create a spirit of innovation in the Talan community - including consultants, clients and other stakeholders. In this mission, Sami has worked as the Director of Innovation at Talan since 2010. He strongly believes that the problems we encounter on a daily basis are the source of inspiration for innovation.

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