Monday, June 17, 2019

World Bank President Resigns From Post; Links Blockchain As One Reason

World Bank President Jim Yong Kim has recently resigned from its post; making some rumors that one of his reason involves blockchain technology. 

World Bank President Leaves Post

On Monday, the news of Jim Yong Kim’s resignation made a shocking impact in the financial world and for all countries. Although Kim has still three years before his term ends, the former World Bank President quickly decided to end his position; leaving the people clueless of his reasons.

“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,” said Kim.

Until now, there are many speculations roaming around in social media, on why Kim decided to leave his post abruptly.

Blockchain Involvement

Some connected the resignation with blockchain technology on where Kim has an obvious interest even before. In one of his past interviews, Kim expressed his opinion with blockchain by saying that he sees it as having a ‘huge potential’ to solve problems in various industries.

“…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.”

New Position In Private-Sector

The speculation also arises more as Kim already gave a statement via email saying that he will join a private sector where he felt more to have the ability on helping industries and making larger impact in the market.

Moreover, according to the released statement of World Bank, Kim would be joining “a firm that will focus on increasing infrastructure investments in developing countries.”

Although Kim has not yet made any statement regarding the matter, he previously mentioned that the details of his new job will be announced soon, in order to clear all rumors about his resignation.

Still, Kim has less than a month to patch things with his past job since February 1 would be his final day as the World Bank President.

Who’s The Next?

Interestingly, the debate of who will be appointed next for the position of Kim also shared the limelight. US President Donald Trump will decide on the next World Bank President since Kim was appointed back in the days of Barack Obama.

As of now, the role of interim president of World Bank would be given to Kristalina Georgieva– the Chief Executive Officer of the bank.





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