Christine Lagarde recommends issuing national cryptocurrencies, the e-krona test was launched. Mining Ethereum on video cards does not bring profit.
The head of the IMF, Christine Lagarde, called on states to change their attitude to cryptocurrencies. She believes that countries should explore the possibility of issuing national coins with a fixed rate - stablecoins. The digital currency of the Central Banks will help increase the rate of growth of the economy and increase the population’s access to various services.
Of course, public stablecoins carry certain risks. Especially the head of the IMF noted the fact that they will make a serious competition to existing cryptocurrencies. This will happen if the authorities provide a comprehensive service to the blockchain. Already, a number of countries have stated that they are planning or exploring the possibility of issuing stablecoins.
The Central Bank of Sweden starts testing the national stablebcoin e-krona. Back in 2016, it announced its plans to launch a state-owned cryptocurrency, and now the process has entered the home straight.
Ricksbank CEO Cecilia Skingsley said it was a breakthrough in the modern financial world and compared the issue of e-krona with the advent of paper money. It was her department that, in the 17th century, issued the first bill. And now Sweden has again got a chance to be ahead of progress. It is planned that the new money will increase the availability of means of payment for ordinary citizens, and by 2030 the country wants to completely abandon cash.
More about testing e-crona
The American company Susquehanna is engaged in tracking the profitability of mining cryptocurrency. The report of this organization states that in November 2018, the profitability of Ethereum production on video cards reached zero. The main problem is the fall in the price of the coin, which has dropped from a record $ 1,350 to $ 181.
Now even top video cards from NVIDIA do not give profit. The efforts of the Ethereum team also contributed to the process. It has long been trying to disconnect professional miners from the mining stream to make it more decentralized. New hardfork, which is scheduled for January 2018, will further reduce the profitability of the extraction of the asset.