Ripple involved in high-level discussions with International Monetary Fund

Ripple co-founder Chris Larsen will be one of the leaders in finance and technology who will hold high-level discussions with IMF director Christine Lagarde. The main focus of the meeting will be on how emerging technologies like blockchain can improve data and cybersecurity. Larsen will be joined by other distinguished members from the blockchain world including Circle CEO Jeremy Allaire, Chain CEO Adam Ludwin, Digital Asset board member Blythe Masters and Blockchain.com president Marco Santori.

Earlier in January, during the Paris Fintech Forum, Lagarde warned that banks need to act and adapt to new technologies to better serve their customers. She particularly highlighted the positive impact of Ripple and Circle. She said:

“I think in the banking system at large in many, many countries, the difference will not be between those who are disrupted and those who survive. The difference will be between those who are cannibalized because they’re not seeing it coming, and they’re not embracing it, and those who self-induce that cannibalization.

And I’m using cannibalization on purpose because it’s a bit of a striking, horrible word. But it’s really what it means. You’re going to disrupt your business model. You’re going to change it. You’re going to reduce your costs. You’re going to expedite your transactions, and you’re going to inspire confidence because you will build out on the basis of an existing backbone, which is your bank and the confidence, relationship you’ve established with your customers.

So that’s where I see changes happening now. If you think of Circle, and Ripple and all those – that’s where they are active and helpful.”