IMF Wants Funds To Be Integrated With Social Media, And ReddCoin (RDD) Has Done That!

Remittance Firm Uses XRP To Slash Transaction Cost From $20 To $2, Sees 800% Usage Increase Overnight

The international Monetary Fund, IMF, has stated that it now expects the wind of money digitalisation to blow to Social media as well since the world wants money to become “more convenient and user-friendly” and “even less serious-looking”.

This thought as beautiful as it is, has been acted upon before now by ReddCoin, and the platform has invented decentralised social tipping through the release of a seamless microtransactions.

Few months back, ReddCoin unveiled ReddID, a fascinating protocol that makes social payment frictionless and secure with little or no charges. Through chrome extension, ReddCoin is used for social tipping on Twitter, Facebook, Reddit and some other social platforms just by having a single ReddID that can be used on nearly all social platforms connected to ReddCoin blockchain.

In a paper tagged “Winds of Change: The Case for New Digital Currency” by Christine Lagarde, IMF Managing Director at the Singapore Fintech Festival relayed is expectation about linking payment with social platforms, saying, “We expect it to be integrated with social media, readily available for online and person-to-person use, including micro-payments.”

Lagarde said afterward that IMF expects micro-payment transaction to be “cheap and safe, protected against criminals and prying eyes.”

She advised Central banks to start thinking of having digital currencies, saying she believes that “we should consider the possibility to issue digital currency. There may be a role for the state to supply money to the digital economy.”

Her assertions are based on the fact that this digital “currency could satisfy public policy goals, such as (i) financial inclusion, and (ii) security and consumer protection; and to provide what the private sector cannot: (iii) privacy in payments.”

ReddCoin Partners StakeBox

Few days back, StakeBox announced they are partnering with Reddcoin to produce the ReddCoin StakeBox that makes it easy for RDD holders to stake their cryptocurrency funds while making a return their investment.

ReddCoin staking is the process of securing the network with your coin weight, which in turn rewards you with new Reddcoin.

Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.

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Isaac Ellis

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