The IMF gave the go-ahead to 8 countries including Russia and Canada to mint their own national cryptocurrencies. The IMF has been supporting the idea of CBDC(central Bank Digital Currencies) for some time now and major G20 countries may sign on. I am not sure if Canada will do this but I have a feeling that Russia is interested because they have recently been dumping US bonds and have said that they will buy Bitcoin to compensate. Issuing their own CBDC will help the process and many other countries may follow. Third world countries like Venezuela have already issued or tried to issue their own cryptocurrencies and I think the world transition to digital money is around the corner. This may be the start of the end of paper cash. However, I don’t think that will effect us much since most of our money is already digital anyways and this just fully makes our money system digital. It may help solve the debt and liquidity problems that faces the world today.
