“Adoption of 100% Bitcoin won’t be a Sri Lanka reality ever,' the Governor of the central bank said.
Sri Lanka Dismisses Tim Draper’s Idea to Combat Corruption With Bitcoin“Adoption of 100% Bitcoin won’t be a Sri Lanka reality ever,” the Governor of the central bank said.
Nandalal Weerasinghe – Governor of the Central Bank of Sri Lanka – rejected Tim Draper’s idea to eliminate corruption in the country by embracing bitcoin. The banker argued that adopting the primary cryptocurrency could worsen the economic situation of the nation.The American venture capital investor recently visited Sri Lanka to shoot an episode of his TV show “Meet the Drapers.” He also held discussions with the President of the country – Ranil Wickremesinghe – and the Governor of the central bank – Nandalal Weerasinghe – regarding the financial crisis reigning in the region and the possible solutions that could ease the turbulence.
“Have you seen Sri Lanka in the news? It’s known as the corruption capital. A country known for corruption will be able to keep perfect records with the adoption of Bitcoin.”Weerasinghe, though, was not open towards the idea, claiming “the adoption of 100% bitcoin won’t be a Sri Lanka reality ever.”The Governor believes technologies different from the leading digital asset could successfully distribute monetary services and boost financial inclusion in the country.
Draper pointed out El Salvador, which, despite its issues , declared bitcoin legal tender in 2021. It positively impacted the country, boosting investments in the area and
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