I think the IMF knows very well that the rise and adoption of cryptocurrencies have a huge potential to displace and overshadow currencies such as CBDCs and therefore, the IMF itself.The rise of decentralized platforms and applications prove it[1]. And the case of El Salvador is a strong initiative to detach itself from the IMF's "virtuous designs". Currently, 190 countries are members of the IMF [2]. I wonder, what will happen to the IMF if progressively the member countries will adopt similar initiatives like El Salvador's? in my opinion, it would be the end of a new beginning of a decentralized financial system managed by digital communities.
You are viewing a single comment's thread from:
Many countries are watching El Salvador experiment closely. I have no doubt it will not the only country with bitcoin as legal tender in the near future.
I agree with you. And if El Salvador substantially improves its economy by adopting bitcoin, it will be a magnificent example for other nations to consider.A software application that uses parameters and economic consensus different from the IMF and the World Bank.