|   Digital Currency


  |   Digital Currency


Are the Rothschilds working on own cryptocurrency 'IMMO'?

A number of reports are currently floating in the media about the Rothschild’s own cryptocurrency project – IMMO.

For the uninitiated, Rothschild & Co is one of the world's largest independent financial advisory groups. The Rothschild family has for ages been considered one of the wealthiest and most influential families in the world and has been at the heart of a number of conspiracy theories.

Earlier this month, Rothschild & Co announced that Alexandre de Rothschild will be appointed as Executive Chairman of Rothschild & Co Gestion, Rothschild & Co's Managing Partner.

Recent reports suggest that the Rothschilds have been taking interest in cryptocurrencies. Alexandre de Rothschild himself has been interested in cryptocurrencies since the end of 2017, writes James Mayer.

Online portal zycrypto noted: “In February, it became known that the Tether accounts of Bitfinex were opened in the Dutch bank ING, owned by The Rothschild Group. At the same time, the profit indicators of this bank have grown significantly. On February 26th, the Fintech company, Circle, the main shareholder of which is Goldman Sachs (also The Rothschild Group), acquired Poloniex, a US-based crypto exchange.”

There have also been rumors that the banking dynasty has begun its work on the IMMO cryptocurrency project around mid-April. The project is reportedly being monitored by Alexandre de Rothschild himself, according to Coindoo.

What is IMMO?

CoinSpeaker speculates that IMMO will be “stablecoin” with its value pegged to the price of gold. The cryptocurrency will be “legally recognized in one of the sovereign countries controlled by the Rothschilds.” The Rothschilds could develop a private blockchain, allowing them to “safely conduct internal transfers thus leaving their descendants the accumulated amount of IMMO tokens.”

However, with very little to no information currently available, all this seems to be pure conjecture at the moment. Is this one more conspiracy theory surrounding the Rothschilds to create a “world currency” [The Economist, 1988]? Or, the dynasty is actually venturing into cryptocurrencies?

Vitalik Buterin, Ethereum Co-founder, wrote:

“Are "the Rothschilds" even well-coordinated enough to be worth caring about as a group these days? I read the wikipedia article on them a few days back and these days they seem to just be a few hundred or thousand people born into various old-money-type high society positions.

“If old-money-type high society people want to make their own currencies, go ahead, more power to them; see you in the moderately-free market.”

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