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Name the quasi-cryptocurrency, launched by the World Bank and the International Monetary Fund (IMF) for better understanding of blockchain technology and the function of crypto assets.
- a)Monero
- b)Litecoin
- c)Ethereum
- d)Learning Coin
- e)None of these
Correct answer is option 'D'. Can you explain this answer?
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Verified Answer
Name the quasi-cryptocurrency, launched by the World Bank and the Inte...
On 13th April 2019, Two international financial institutions the World Bank and the International Monetary Fund (IMF) have launched a private blockchain and quasi-crypto currency called as “Learning Coin” for better understanding of blockchain technology and the function of crypto assets. This news was published via a Financial Times report.The asset will only be available for use within the IMF and the World Bank. It has no monetary value, means it is not a true cryptocurrency.
Most Upvoted Answer
Name the quasi-cryptocurrency, launched by the World Bank and the Inte...
The quasi-cryptocurrency launched by the World Bank and the International Monetary Fund (IMF) for better understanding of blockchain technology and the function of crypto assets is called Learning Coin.
Explanation:
About Learning Coin:
Learning Coin is a quasi-cryptocurrency launched by the World Bank and the International Monetary Fund (IMF) in order to enhance their knowledge and understanding of blockchain technology and cryptocurrencies. It is not a real cryptocurrency that can be used for transactions or investments, but rather a tool for educational purposes.
Purpose of Learning Coin:
The main purpose of Learning Coin is to provide an experimental environment for the World Bank and the IMF to explore the potential uses of blockchain technology in the financial sector. It allows these organizations to gain hands-on experience and better understand the underlying technology and mechanics of cryptocurrencies.
Benefits of Learning Coin:
1. Understanding Blockchain Technology: Learning Coin helps the World Bank and the IMF to understand the fundamentals of blockchain technology, such as transaction verification, decentralization, and immutability. This knowledge can be crucial in exploring the potential applications of blockchain in areas like remittances, supply chain management, and financial inclusion.
2. Crypto Asset Functionality: Learning Coin also enables the organizations to study the functionality and features of crypto assets. They can analyze factors like volatility, liquidity, and market dynamics without risking real funds. This knowledge can be valuable in assessing the risks and benefits associated with cryptocurrencies and their impact on the global financial system.
3. Collaboration and Knowledge Sharing: The launch of Learning Coin fosters collaboration between the World Bank, the IMF, and other participating organizations. It provides a platform for exchanging knowledge, insights, and best practices in the realm of blockchain and crypto assets. This collaborative effort can contribute to the development of innovative solutions and policies in the financial sector.
Conclusion:
Learning Coin serves as a learning tool for the World Bank and the IMF to explore the potential of blockchain technology and crypto assets. It allows these organizations to gain practical knowledge and insights that can be valuable in shaping the future of the financial industry. While Learning Coin is not a real cryptocurrency, it plays a crucial role in enhancing understanding and promoting collaboration in this rapidly evolving field.
Explanation:
About Learning Coin:
Learning Coin is a quasi-cryptocurrency launched by the World Bank and the International Monetary Fund (IMF) in order to enhance their knowledge and understanding of blockchain technology and cryptocurrencies. It is not a real cryptocurrency that can be used for transactions or investments, but rather a tool for educational purposes.
Purpose of Learning Coin:
The main purpose of Learning Coin is to provide an experimental environment for the World Bank and the IMF to explore the potential uses of blockchain technology in the financial sector. It allows these organizations to gain hands-on experience and better understand the underlying technology and mechanics of cryptocurrencies.
Benefits of Learning Coin:
1. Understanding Blockchain Technology: Learning Coin helps the World Bank and the IMF to understand the fundamentals of blockchain technology, such as transaction verification, decentralization, and immutability. This knowledge can be crucial in exploring the potential applications of blockchain in areas like remittances, supply chain management, and financial inclusion.
2. Crypto Asset Functionality: Learning Coin also enables the organizations to study the functionality and features of crypto assets. They can analyze factors like volatility, liquidity, and market dynamics without risking real funds. This knowledge can be valuable in assessing the risks and benefits associated with cryptocurrencies and their impact on the global financial system.
3. Collaboration and Knowledge Sharing: The launch of Learning Coin fosters collaboration between the World Bank, the IMF, and other participating organizations. It provides a platform for exchanging knowledge, insights, and best practices in the realm of blockchain and crypto assets. This collaborative effort can contribute to the development of innovative solutions and policies in the financial sector.
Conclusion:
Learning Coin serves as a learning tool for the World Bank and the IMF to explore the potential of blockchain technology and crypto assets. It allows these organizations to gain practical knowledge and insights that can be valuable in shaping the future of the financial industry. While Learning Coin is not a real cryptocurrency, it plays a crucial role in enhancing understanding and promoting collaboration in this rapidly evolving field.
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