Cryptocurrency

Sugirtha
Sumesh
Suriyakumar
Thavaprakash
• Christine Lagarde
• 11th Managing director of IMF and first woman to be as
manager of IMF .
• France finance minister (2007-2010)
• Chairman of Global strategic committee.
 International monetary
fund (IMF)
• An organization of 189 countries working to secure financial
stability ,facilitate international trade ,promote employment
and reduce poverty around the world .
• Formed in 1945 to avoid the repetitions like great depression .
IMF contributions
Cryptocurrency
• It is a form of digital money designed to make transactions
more secure .
• It’s a form of secret coding to process transactions more safe
and secure.
• Over the past years there are many crypto currencies has
evolved such as Bitcoin ,lite coin , etherum and Monero and
Unocoin.
• Israel and Venezuela have shown some remarkable
developments in cryptocurrency trading.
• The danger of cryptocurrency extends beyond facilitation of
illegal activities. Like conventional currencies, crypto
currencies have no intrinsic value.
Bitcoin
• Bitcoin is a cryptocurrency, or a kind of virtual currency that
uses cryptography and distributed ledgers (the block chain) to
keep transactions both public and fully anonymous.
• Last year’s IMF report indicated that crypto currencies have
already been used to circumvent exchange and capital controls
in China, Cyprus, Greece, and Venezuela.
• The Reserve Bank of India (RBI) had issued a statement
similar to December 24, 2013, against the use of encrypted
money like Bitcoin.
Bitcoin for USD prices
Bitcoin in India
• Goldman Sachs has in a report this month highlighted how
the science behind Bitcoin could disrupt everything. “Once
considered the underlying pipes of Bitcoin, this technology is
quickly taking center stage from its cryptocurrency parent,
promising an ushering in of a new set of tools to cut costs and
challenge the profit pool of the middleman with a promise to
make centralized institutions obsolete,” the report said.
• Why would anyone outside of a lunatic asylum want to hold
money? What an insane use to put it! For it is a recognized
characteristic of money as a store of wealth that it is barren;
whereas practically every other form of storing wealth yields
some interest or profit.”
• –John Maynard Keynes