World Bank & IMF Launch “Learning Coin”
The World Bank and the International Monetary Fund (IMF) have taken another step into the blockchain ecosystem; this time, launching a crypto token under the name “Learning Coin.”
According to the Financial Times, the token will have no monetary value, and is not openly available to members outside of the private blockchain. The purpose of Learning Coin is to create “a strong knowledge base” around blockchain technology throughout the two organizations.
The IMF commented on the report, saying:
“The development of crypto-assets and distributed ledger technology is evolving rapidly, as is the amount of information (both neutral and vested) surrounding it. This is forcing central banks, regulators and financial institutions to recognize a growing knowledge gap between the legislators, policymakers, economists and the technology.”
In addition to the token, the two organizations launched the Learning Coin app, which aims to allow users to share digital content – such as videos, research, blogs and presentations – across the organizations.
Staff members at both organizations “earn” coins for achieving a variety of educational achievements and milestones. Although the tokens hold no value, the developers are reportedly testing ways by which the staff can redeem them for rewards.
While the announcement appears to be nothing more than an intuitive proof-of-concept, global-monetary leaders are rapidly working to explore the technology, as to not be left behind by the innovation within the industry.
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— IMF (@IMFNews) April 10, 2019