Cryptocurrencies Endorsed by New European Central Bank President,

[MUGNIA]

Cryptocurrencies Endorsed by New European Central Bank President, Industry Disruption Imminent

Christine Lagarde, who is set to become the new president of the European Central Bank (ECB), has advocated that international banking organizations and banking regulators begin recognizing the growing importance of cryptocurrencies.

During the initial days of the cryptocurrency boom, Lagarde, during her tenure as President of the IMF, was quick to point out that blockchain technology could help make the banking system more inclusive. She went a step further to state that the IMF could, at some point, develop its own digital currency as well.

Lagarde also perceives blockchain technology as a means to lower the cost of financial transactions, making the banking sector significantly more efficient. In a Facebook Live interview given to CNBC on the sidelines of the IMF Annual Meetings in Washington D.C., Lagarde boldly claimed, “We are about to see massive disruptions.”



Cryptocurrency Interest Spiking
Bitcoin and other cryptocurrencies have been flying high in 2019, after a rather weak showing throughout the year previous. The increase in valuations is due in part to the entry of leading Wall Street firms and Silicon Valley investments in the market and technology as a whole.

Investors of digital currencies view Lagarde’s statement as a catalyst to the already rising cryptocurrency prices. Interest from big multinational companies only further lends credibility. Investment bank JP Morgan and social media giant Facebook are only a couple of the major companies that have unveiled financial products based on blockchain technology.

Another positive stimulant is believed to be the Bitcoin ‘halvening’ event when the number of new tokens discovered in mined blocks will be cut by half. This supply reduction in the midst of high demand is invariably leading to an increase in Bitcoin’s valuation.

Peter Brandt, a veteran trader who gained popularity after predicting Bitcoin’s price fall in January 2018, believes that the world’s largest cryptocurrency is only going to grow in subsequent years. According to him, Bitcoin’s price growth is taking place in parabolic phases, meaning that it is expected to sharply increase in value.

https://twitter.com/PeterLBrandt/status/1142271065936187392


source: https://beincrypto.com/cryptocurrencies-endorsed-by-new-european-central-bank-president-industry-disruption-imminent/

[Betim]

Lagarde is a very progressive politician and thanks to her, the market has partially gained more growth than he could. I think the creation of state cryptocurrencies will provide greater confidence in the crypto sphere as a whole and will accelerate the process of integrating cryptocurrencies into the existing economic model.

[Lukasz]

World Bank acknowledging crypto currency  as a viable payment method is very important for growth and development of the whole industry. Looking forward to more news of such scope
Congratz BTC all the best

[kaleemmalik]

It really a great news for everyone.. congratulations to everyone and Also BTC..

[zilzylian]

Fiat transaction fees are always a conversation because the costs are very expensive. in each shipping transaction between countries with two different fiat currencies, if crypto is approved by the government, I think it's a good idea to reduce shipping costs which are very expensive because foreign exchange from each country is different at the time of sending money transactions

[Niteroy]

The development and growth of cryptocurrencies did have a strong impact on Lagarde’s statements, but also the upcoming halving of the unit remuneration had a positive impact on the Bitcoin price and on the entire crypto market as a whole. The last time there was a decrease in the remuneration for the unit was exactly the same increase in the price of Bitcoin, which eventually increased about twice after the event.

[Lukasz]

Still adoption is going slow note that computers are much cheaper than humans as work force so global adoption is inevitable btw check out dropil and their idea