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The International Monetary Fund (IMF) and the World Bank have just created a pseudo criptocoin. According to the Financial Times, the project aims to explore and deepen the knowledge of the crypto technology.

The idea is that the asset works as a “Learning Currency”, that institutions will disclose to their employees. With that in progress, the entities intend to familiarize them with the principles of crypto assets and distributed entries / records.

In addition, the expectation is that the pros analyze possible cases of intelligent contracts employment, transparency and prevention of money laundering. According to the information published on the site Criptonotícias, the institutions had clarified that the token will have no monetary value and will not be accessible outside the scope of study range. For such reason it will not be considered a criptocoin, as the bitcoin.

The project will operate as a “Knowledge Center” to access the multimedia information material. The program design will allow employees to earn tokens based on each educational milestone reached.

The program developers are also studying the possibility of exchanging the “learning coins” for rewards. As a result, employees could learn how they work in real life.

Identifying gaps

The creation of the product took place once the IMF recognized a growing knowledge gap between the traditional players of the financial sector and the technology field. According to the Fund, based on the token it will be possible to identify the gaps and form “a solid base of  technology knowledge among the staff of the IMF and the World Bank”.

According to the Agency, the development of criptoassets and technology of distributed entries is evolving rapidly. Similarly, it is expanding the volume of information on the topic. This is pushing  the central banks, regulators and financial institutions to recognize that there is a growing gap of knowledge between policy makers, economists and technology itself.

The participation of two major global financial institutions in a project of criptocoins attests to the growing adoption of this technology. Certainly, the action will open the way for other international entities to look more closely at this asset class and its possibilities.