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The International Monetary Fund, or IMF, in collaboration with the World Bank, has announced a new private blockchain network which allows users to learn more about the niche segment of cryptocurrency.

The new test network, going by the name Learning Coin, will only be accessed by the International Monetary Fund and the World Bank.

To clear the air, the Learning Coin is not a real cryptocurrency but a project which will provide in-depth information to users on cryptocurrency. Additionally, the project has an app which will contain blogs, research, videos, and presentations.

As Learning Coin is available only within the IMF and the World Bank, the employees from both the organizations will get coins upon reaching various levels of crypto education.

Following this, users can redeem the coins which will eventually teach them how to use the cryptocurrency in their daily lives.

To recall, JP Morgan Chase recently introduced a virtual currency known as JPM Coin, which acted as a digital asset for settlements between customers of any bank.

Furthermore, the blockchain network could be used for various other segments after the test.

Additionally, it is suggested that the IMF is in talks with the Central Bank Digital Currencies (CBDCs) for its role in cryptocurrency in the future.

Also Read: China Could Soon Ban Cryptocurrency Mining Citing Wastage of Resources