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Christine Lagarde: Need to spread awareness about how blockchain can revolutionize privacy, freedom



Christine Lagarde: Need to spread awareness about how blockchain can revolutionize privacy, freedom
Source: Unsplash

Christine Lagarde, managing director of the International Monetary Fund [IMF], spoke at the Kissinger Lecture in Foreign Policy and International Relations about the changing scenarios in the economic and the financial industries and also addressed the growing need for cryptocurrency adoption.

Lagarde, who is currently ranking number 3 on the Forbes’ Power Women 2018, said that cryptocurrency regulation is important and should not be entirely left in the hands of corporate sectors or representatives. She continued:

“They’re [corporate sectors] dealing with the common good and your privacy and their data and they’re dealing with your freedom. So governmental authorities, parliamentarians, have to be involved. And they have to be helped along the way for those, who are not computer literate, those who feel completely alien to these digital transformations.”

Lagarde strengthened her statement by saying that it is the public’s responsibility to include all the related sectors like the IMF or the banks and educate them on these technologies [blockchain].

She said that all the important people like the engineers and the corporations who understand the implications of the data and how it affects the future must be informed about such technologies. She stated:

“So there are many technologies that you don’t master and I don’t, either, but having enough knowledge to understand the key principles that need to be respected, is something that I believe falls on the shoulders of the parliamentarians and the governments because they today have the responsibility to represent the people.”

Christine Lagarde recently even detailed the benefits of Bitcoin [BTC], Ethereum [ETH] and cryptocurrencies in general. In an IMF blog post, Lagarde wrote:

“Just as a few technologies that emerged from the dot-com era have transformed our lives, the crypto assets that survive could have a significant impact on how we save, invest and pay our bills.”

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.