The international monetary fund always has been on the forefront in giving opinions regarding Cryptocurrencies and other digital currencies.
It has however proven quite a task to be able to regulate Cryptocurrencies, hence therefore opted to using its native technologies to help fight crime.
Over the past few months, Blockchain analysis has proved to be a reliable business. It has been rumored that Christine Lingard now wants to join the wagon in the drive to embrace this technology so as to bring more legitimacy to this new form of money.
In the financial sector, Cryptocurrencies are seen to have a no good reputation. The perceived non-recognition of Bitcoins and Altcoins has proved a bit challenging to the regulators for quite some time after engaging in lots of push and pull with the users of the technology.
The IMF has been one among the many institutions that have tried to regulate Cryptocurrencies which has proven quite a task and the regulator has seen this a fruitless exercise that shall end without a proper trace.
Largarde seemingly has joined the drive however want to try this with a different approach all the same. She feel that the IMF should tackle the growing Digital currency base with strategic approaches that will absorb the technology with minimal “side effects”.
She wants to track Cryptocurrency user’s behavior’s through Blockchain analysis tools hence they will be able to address all the concerns that may come along the technology such as money laundering, tax evasion amongst other crimes.
Christine Largarde feels that those who have the inspiration to have a safe online space should be able to logically put facts right.
The Blockchain technology enables immediacy in the transactions that could help create the registries for a standard, verifiable clients information’s and be able to provide digital signatures.
Giving data proper handling would help get the best out of it with increased value being able to minimize tax evasions especially with regards to the cross-country transactions
Largarde’s move is deemed to be a genuine move aimed at shaping the industry while giving it more legitimacy by weeding out all the illicit players.