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[CrazySher]

World Bank Said no to the request of El Salvador to help the trop integration of Bitcoin in the tropical nations economy. But it said that it will help El Salvador in the other different problems.

 

[Niftyicon]

No problems there, if World bank is not ready to help, El Salvador could find their solutions elsewhere. I guess the world bank is trying to play safe.

 

[cayne90]

As expected

 

[lost4cryptos]

change is always a hard pill to swallow, but we the people are in control, bit by bit, we'll get there

 

[Lobardi]

That was never going to be different reply to the proposed scenario and the fact is that the major of the Bitcoin asset platform and the top individuals managers had knew that this way a no but ei Salvador played their role on trying at almost challenging task for nothing ATM to be honest

 

[Bisola]

World Bank Said no to the request of El Salvador to help the trop integration of Bitcoin in the tropical nations economy. But it said that it will help El Salvador in the other different problems.

I think the World Bank is against El Salvador adoption of bitcoins anti-illegal tendency simply because they do not want dollar to drop and they did not want people to start using bitcoin instead of dollar. So that's what I think. Or is there any other reason?

 

[MayorKayz]

It is not the fault of world bank. For now they will always reject ant requests that concerns cryptocurrency. Because they don't work alone. Since there are still thought about cryptocurrency. They will not want to be in haste in accepting cryptocurrency.

 

[ELSA-ELI]

Yes there are still alot of red flags surrounding Bitcoin and other cryptocurrency because it is believed that it is being used to fund illegal activities and has potential to make alot of economies crush because it is not a bondable asset.So it is still premature for the world bank to align itself there.

But what amazes me is that it is possible to put alot of security modelities in place and more especially taking note that all transactions show on the Blockchain network which can make it easy to mornitor suspicious transactions.

 

[Ivanr01]

The approach used by them is fairly traditional because if they have all the money of the world and suddenly the price of bitcoin crashes and a country wants and sends a need of a request for full of his money who will suffer , its the world bank that will suffer so they don't want to take a big risk in this scene

 

[a_jerobon]

It is definitely understandable if world bank are against El Salvador's project concerning Bitcoin. Maybe they are against their adoption of it. Probably because it may lead to El Salvador not using the dollar anymore hence it will drop in value. But I am glad that they are promising to help in any of the other problems that El Salvador face.

 

[microunit]

At the moment many countries and governments are still skeptical about bitcoin and its effects to the country's economy when it is integrated and adopted. I think it will still take time and proofs for world bank to fully trust in bitcoin it just needs time, maybe now they rejected it but in the future they would accept it

 

[Wisdom01]

the world bank are probably not pleased with the adoption of Bitcoin as a legal tender by elsavador ,I think they are scared the volatility could affect the economy of elsavador and they might start to deny them loan and others ,that's the big problem attached

 

[Ben Kempton]

the world bank are probably not pleased with the adoption of Bitcoin as a legal tender by elsavador ,I think they are scared the volatility could affect the economy of elsavador and they might start to deny them loan and others ,that's the big problem attached

The fact remains that the economy of El Salvador has indeed been affected by the recent cryptocurrency crisis, according to some news. If Bitcoin goes down more, then the economy of El Salvador will suffer even more. I do not think that it was a good decision by El Salvador to invest a huge amount of capital in cryptocurrencies.

 

[Wisdom01]

The fact remains that the economy of El Salvador has indeed been affected by the recent cryptocurrency crisis, according to some news. If Bitcoin goes down more, then the economy of El Salvador will suffer even more. I do not think that it was a good decision by El Salvador to invest a huge amount of capital in cryptocurrencies.

you are right , in addition I think çrypto currency is not something we invest all we have ,we only invest what we can afford to lose , so involving their economy in it is like gambling ,and now it's not playing out well for them ,but I still appreciate their efforts in trying to build cryptocurrency adoption

 

[fiery phoenix]

I think the World Bank is against El Salvador adoption of bitcoins anti-illegal tendency simply because they do not want dollar to drop and they did not want people to start using bitcoin instead of dollar. So that's what I think. Or is there any other reason?

Exactly.The world bank is afraid that bitcoin is weakening the power of the US dollar because it plays a dominant role in world economy and also the power of the US as a nation that is looked up to by all other nations,now countries can fight US sanctions by storing assets as crypto.The world bank also want to keep the global economy centralised so that nations can still be punished economically by sanctions

 

[BullyMaguire]

Well they are the world bank.. having accepted an alien currency that most of them probably doesn't believe in in the first place is going to give them negative impact. Because they operate world money like fiat or even gold reserves crypto isn't that accepted yet. El Salvador should look for other ways aside from asking for help

 

[Wisdom01]

Exactly.The world bank is afraid that bitcoin is weakening the power of the US dollar because it plays a dominant role in world economy and also the power of the US as a nation that is looked up to by all other nations,now countries can fight US sanctions by storing assets as crypto.The world bank also want to keep the global economy centralised so that nations can still be punished economically by sanctions

I think there is what is called international law and monetary asset is part of the power that controls the law ,so if a country goes against it ,they could place sanction ,and if the country uses asset like Bitcoin it's so easy to bypass the sanction placed

 

[TAH123]

There is nothing strange in it. Banks should be jealous of bitcoin or other digital assets bcuz cryptos might be our future currency and banks would be dead then. While World Bank is supposed to kinda control the world's economy, Adopting bitcoin hits hard! It doesn't matter. I think crypto would take down fiat currency very soon.

 

[Wisdom01]

There is nothing strange in it. Banks should be jealous of bitcoin or other digital assets bcuz cryptos might be our future currency and banks would be dead then. While World Bank is supposed to kinda control the world's economy, Adopting bitcoin hits hard! It doesn't matter. I think crypto would take down fiat currency very soon.

Cryptocurrency elevation is a big thing that's why banks are probably bringing out their own policies , they have seen how Bitcoin is thriving hard , some don't want to see more development , while some banks are in support if cryptocurrency and they are always ready to see the growth of it

 

[BullyMaguire]

There is nothing strange in it. Banks should be jealous of bitcoin or other digital assets bcuz cryptos might be our future currency and banks would be dead then. While World Bank is supposed to kinda control the world's economy, Adopting bitcoin hits hard! It doesn't matter. I think crypto would take down fiat currency very soon.

Exactly what im thinking. Let's be real here.. crypto currency is a competition for fiat which is what central banks hold power to. Why would they want something that may make them lose their position in the world. They will continue to be against it unless they can get ahold of control somehow