The World Bank refuses to help El Salvador in implementing Bitcoin
What is the role of World Bank ? They say they work on « sustainable solutions that reduce poverty », but their recent refusal to help Salvadoran government in implementing Bitcoin is making us doubt it.
Bitcoin is one of the few tools that can effectively fight poverty, offering an accessible store of value to people who don’t have enough spare capital to invest their inflationary money into real assets like stocks or houses. Not to mention a cheap solution to money transfers or access for the unbanked.
The World Bank cited “environmental and transparency shortcomings” as the reason for refusal, showing that they’re either hypocrite or ignorant. Considering that the World Bank itself invests billions of dollars into fossil fuels ($12 Bn invested since the Paris climate agreement), and Bitcoin is not only greener, but also more transparent than the World Bank, it can be both.
