Crypto to Shake Financial System, IMF Head Says

As an example of how cryptocurrency affects financial market participants, Christine Lagarde cited the change in business model of commercial banks
11 April 2019   344

Digital currencies “shake” the banking system and should be monitored to maintain its stability. This was in an interview with CNBC said the head of the International Monetary Fund, Christine Lagarde.

As an example of how cryptocurrency affects financial market participants, she cited the change in business model of commercial banks.

I think the role of the disruptors and anything that is using distributed ledger technology, whether you call it crypto, assets, currencies, or whatever ... that is clearly shaking the system.
 

Christine Lagarde 
Managing Director, IMF

She's convinced that regulators should monitor and accompany such changes in the industry. 

We don’t want innovation that would shake the system so much that we would lose the stability that is needed.
 

Christine Lagarde 
Managing Director, IMF

IMF attitude to cryptocurrencies changed over time. So, back in May last year, the organization claimed that digital assets do not threaten global economic stability, and in October declared that they would make the world economy vulnerable.

1st Alternative Zcash Client to be Created by Parity

The responsibility for the continued development and support of the new client called Zebra will be with the Zcash Foundation
18 June 2019   126

The leading developer of solutions for the Ethereum ecosystem, Parity Technologies, presented the first alternative client for cryptocurrency Zcash.

A new client called Zebra is designed to improve the security of the Zcash network. So, if the original Zcashd client will not be able to operate for some reason, the blockchain will be supported by nodes on Zebra.

In addition, with the help of an alternative client, developers will be able to identify bugs and eliminate defects in consensus.

The community wins across the board, as there are now more core developers working on clients, with more interests represented and clients taking different approaches on how to build apps on top. Zcash can now boast a more diversified community that can effectively tailor experiences for Layer 2 developers as well as end-users.
 

Fredrik Harryson
CTO, Parity Technologies

The responsibility for the continued development and support of the Zebra will be with the Zcash Foundation.