Christine Lagarde, the first female managing director of the International Monetary Fund (IMF), who is currently ranking number 3 on the Forbes’ Power Women 2018, delivered the Kissinger Lecture at the Library of Congress this week. During her one hour and 24 minutes speech she addressed various issue of actual politics, economics and social moments and also covered the blockchain and cryptocurrencies. She believes that corporations “dealing with the common good and your privacy and their data and they’re dealing with your freedom. So governmental authorities, parliamentarians, have to be involved. And they have to be helped along the way for those, who are not computer literate, those who feel completely alien to these digital transformations.” So she excludes any decentralization without governmental involvement.
Christine Lagarde also put responsibility on cryptocurrencies and blockchain community to inform all international financial organizations as IMF about new developments in financial technologies and she believes that this community bear an obligation to “educate” technical specialists around the world how to handle the distributed ledger technology and cryptocurrencies phenomena.
At last the key role in new technologies she sees in government and legislative bodies: “So there are many technologies that you don’t master and I don’t, either, but having enough knowledge to understand the key principles that need to be respected, is something that I believe falls on the shoulders of the parliamentarians and the governments because they today have the responsibility to represent the people.” This thesis overshadows the pro-crypto message she left when IMF top official stressed that “just as a few technologies that emerged from the dot-com era have transformed our lives, the crypto assets that survive could have a significant impact on how we save, invest and pay our bills.”