We’ve been seeing the newly invented advanced technologies on a constant basis, now the Blockchain can have a large impact on the way transactions and ownership are recorded, it is important to note that there are actually two types of blockchains: public and private blockchains. We witnessed the live instances of deployment of such technologies in various walks of our lives, such as, into trade finance, investment banking, pharmaceutical, SCM and so on.

In this write-up, we run you through the latest developments in the empire of international geopolitics and economics regarding cryptocurrencies.

The Organization of Economic Cooperation and Development is looking into the possible uses of digital coins and the associated technologies.

The OECD provides a forum in which governments can work together to share experiences and seek solutions to common problems.

Kazakhstan is calling for the adoption of common crypto rules by the United Nations, while Iran and Russia are thinking about using cryptocurrency in bilateral trade.

The economic cooperation firm has started exploring blockchain-based cryptocurrencies and Initial Coin Offerings (ICOs). The international body also wants to help governments of member-states develop and implement legislation aimed at protecting consumer rights in electronic trade.

According to Elina Sidorenko, head of Russia’s interdepartmental group working to assess risks and opportunities associated with cryptocurrencies, the OECD will be used as a platform to discuss matters related to cryptos and token sales. These discussions will be held in the context of ensuring the safety of consumers of financial services, she said in a post on her Telegram channel.