World Bank, IMF launch educational blockchain coin

Mackenzie Garrity - Print  | 

The World Bank and International Monetary Fund have released a cryptocurrency known as the "learning coin" to provide more insight on how blockchain works, according to the CoinDesk.

The two organizations launched a private blockchain network to support the digital token. Learning coin will have no monetary value and will not be openly available.

"The development of crypto-assets and distributed ledger technology is evolving rapidly, as is the amount of information surrounding it. This is forcing central banks, regulators and financial institutions to recognize a growing knowledge gap between the legislators, policymakers, economists and the technology," an IMF spokesperson said in a release, according to CoinDesk.

An app to go along with the coin was also released for users to share content. Staff at the World Bank and IMF will be able to earn coins for achieving educational milestones. The two companies plan to test how staff can redeem the coins for rewards.

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