IMF makes bold statements in favor of Bitcoin and crypto as an “evolution of money”

The International Monetary Fund (IMF) speaks volumes as to the transformative potential of BTC and crypto. In a new video posted on Twitter the international body covers the question of drawbacks of traditional payment systems.

IMF praises crypto

As explained by the International Monetary Fund, there are numerous challenges faced by the existing monetary system,

“The biggest problem is that companies often get a share of the profit received from deals. Secondly, we should entrust companies with the protection of our confidential data from hackers. International payments take quite a long time and are costly.

In order to solve this issue, we could use a special currency that would be secure and based on cryptography representing a way of data protection with the help of mathematics. This special currency type is called “cryptocurrency” and exists only on computer networks”.

Although cryptocurrencies provide a lot of benefits, the entity warns of that digital assets have certain risks.

“Most of transactions with crypto tokens are anonymous. Some of them are impossible to trace. This will make it easier for fraudsters to make transactions not attracting regulator’s attention.

You may lose all of your assets in case you lose your password. Currently all of them are highly volatile. They cannot process large transactions, and are not widely spread yet”.

IMF claims that once the current restrictions are lifted, digital assets may become a key to future of the money.