The financial institutions World Bank and International Monetary Fund (IMF) use a non-tradable internal token called “Learning Coin”. This is intended to reward employees who are continuing their education as blockchain technology. This was reported by the Financial Times (FT) over the weekend.

This is apparently a token based on a private blockchain network of the two institutions. It can not be traded against other coins or fiat currencies and is therefore not a true cryptocurrency.

Blockchain knowledge practically experienced

As the name suggests, the Learning Coin should serve as an educational tool. IMF and World Bank employees can find out about an associated Distributed Ledger Technology (DLT) app and get paid for Learning Coin learning achievements. The developers are also working on ways to convert the tokens into rewards.

According to the Financial Times, the project aims to build a “strong knowledge base” on blockchain technology. According to the IMF, central banks, regulators and financial institutions are…

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Source: https://thebitcoinnews.com/world-bank-and-imf-use-internal-pseudo-cryptocurrency/