El Salvador has been making news for a while now with its historical move of legalizing bitcoin. A move that is supposedly revolutionary and which might go down in the history of crypto as a milestone move. The decision of the country was received with applause, crediting the president for his futuristic vision and prudence. However, seems like the World Bank is not convinced enough about the viability of the move. El Salvador’s hope of getting technical aid from the World Bank for implementing bitcoin was turned down stating environmental and transparency concerns.
According to a spokesperson at the World Bank,
“While the government did approach us for assistance on bitcoin, this is not something the World Bank can support given the environmental and transparency shortcomings.”
Looks like history is not made in the blink of an eye. The response from the World Bank has attracted the attention of a number of bitcoin enthusiasts and Twitter has been filled with reactions, responses, and memes ever since the news came forth.
Here is a set of reactions and responses from Twitter reflecting the opinions of people around the world.
Seems like the actual issue is a lack of knowledge.
CORRECTION: The World Bank hasn’t figured out how to make money off bitcoin. https://t.co/Cjh3A254Cb
— Pomp 🌪 (@APompliano) June 17, 2021
One has to take care of one’s back.
BREAKING: WORLD BANK CANNOT HELP EL SALVADOR MAKE WORLD BANK OBSOLETE. pic.twitter.com/gLReCZXC4r
— Samson Mow (@Excellion) June 17, 2021
However, some truths are hard pills to swallow.
Bitcoin will do more for El Salvador than the World Bank ever could.
— NICO🌋 (@BITVOLT7) June 17, 2021
Apparently, turning down the request for support has resulted in a lack of support for the World Bank itself.
Hey World Bank, you and the IMF, you can go f*ck yourselves
— Max Keiser (@maxkeiser) June 17, 2021
We never run short of ironies.
The @WorldBank saying they can’t help El Salvador’s Bitcoin implementation because of “environmental and transparency shortcomings” is rich.
As if the World Bank has worked in transparent and environmentally-friendly ways over the last five decades 😂 https://t.co/gkXTELBNBE
— Alex Gladstein 🌋 (@gladstein) June 17, 2021
Delving deep, some facts are making their presence known.
— Documenting Bitcoin 📄 (@DocumentingBTC) June 17, 2021
No is not always an easy way out, and the responses on Twitter underscores that.
The IMF and World Bank confirmed this week what we have been saying for years.
They don’t care that half the world is unbanked and could benefit from Bitcoin. They pose as humanitarian financial institutions but they are parasites. Their actual priority is power and control.
— NICO🌋 (@BITVOLT7) June 17, 2021
And some questions for which answers are still in the fog.
The World Bank refuses to help El Salvador implement Bitcoin, citing “transparency shortcomings.”
But #Bitcoin is a public ledger that is fully auditable. When was the last time the FED was audited? 🤨
— Bitcoin Magazine (@BitcoinMagazine) June 17, 2021
Looks like the World Bank rushed head straight into what it was trying to avoid, just like Oedipus did.
— criptografiti (@cryptograffiti) June 10, 2021
The accusations are gaining momentum by the minute.
— Heidi🗯 (@blockchainchick) June 17, 2021
Sharper responses that hit home.
There shouldn’t be a “world bank”
— Justine (@MsHodl) June 17, 2021
Or perhaps, technology is not everybody’s cup of tea.
Bitcoin is TECHNOLOGY.
— Lady Cryptonic (@ladycryptonic) June 17, 2021