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Did The World Bank President Resign To Work With Blockchain?

By&nbspRishma Banerjee

Jim Yong Kim, the president of the World Bank, has recently announced his resignation, which has made a shocking impact on the financial world, and for all countries at large.
Reports about the resignation, surfaced yesterday, which has left most thinking about the reason behind this step. Kim, who still had three years before the end of his term, said:

It has been a great honour to serve as president of this remarkable institution, full of passionate individuals dedicated to the mission of ending extreme poverty in our lifetime.

Since, no explanation has been provided by Kim, as to why he made this move, rumors regarding the same have been roaming around on social media. Speculations have gained more ground as Kim has given a statement via an email which says that he’ll be joining a private sector, where according to him, he would have the ability to help industries to make a larger impact on the market.

As BTC Wires had reported previously, Kim has for a long time expressed an interest in blockchain technology. At a meeting organized jointly by IMF and World Bank, in Bali, he had said that it was his belief that this new technology had huge potential and had not been optimally used. He also spoke in favor of Distributed Ledger Technology, which he felt could help organizations in utilizing resources, which otherwise would take “forever.” He has said:

… there are innovations in the technological world that can help us leapfrog generations of bad practice. generations that would take forever in terms of reducing corruption.”

Under such circumstances, many have connected Kim’s resignation with is interest in blockchain technology. Moreover, as per the statement released by the World Bank, Kim would be joining “a firm that will focus on increasing infrastructure investments in developing countries.”

However, Kim has given assurance that the details of his new job will be released soon, in order to clear the air from any rumors that are doing the rounds.

Rishma Banerjee

Rishma is currently pursuing a bachelor’s degree in International Relations and has a special place in her life for sifting through all sorts of random trivia, thank you very much.


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