IMF and WB annual meeting discusses block chain’s potential

The annual International Monetary Fund (IMF) and World Bank (WB) meeting was held in Washington, DC, over the weekend and notably the subject of bitcoin and its underlying technology was brought up for discussion. While some participants likened the digital currency to Esperanto – a good idea that might not live up to its potential – others criticised it as a poor store of value, according to a report from Mexican bank Banorte. The bank reports attendees as saying: ‘Nobody believes bitcoin or any of these will take over the world as the next global currency. In this context, some compared this to what happened with Esperanto, taking over the world’s language of choice, which as we all know, has not happened at all.’ However, it also indicates financial institutions are starting to take notice of bitcoin’s disruptive potential and attitudes seem to be softening, according to coindesk.com