Kameir

The International Monetary Fund (IMF) is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. To the casual observer the IMF has directed its attention mostly towards monetary concerns. Therefore it is unsurprising that the IMF weight into the discussion on virtual currencies (VCs) and the underlying distributed ledger systems.

The quality of the answers you get are usually correlated with the quality of the questions you ask. In case of the International Monetary Fund’s ‘Staff Discussion Note’s on Virtual Currency’, the questions are being asked inside of a very narrow and very dark cardboard box with a peep-hole directed to the past one hundred years. When analysing the function of virtual currencies as money, the IMF paper simply declares it as falling short of the legal definition of money (page 15) and cites the usual definition of money including recent historic background.

Innovators in the cryptocurrency space must feel like Henry Ford when being told that his car was falling short of being a horse.

https://www.imf.org/external/pubs/ft/sdn/2016/sdn1603.pdf