When Silicon Valley investor Tim Draper proposed the widespread adoption of Bitcoin in Sri Lanka, he may have gotten a much different reception than he expected. Billionaire cryptocurrency evangelist Tim Draper was in Sri Lanka to shoot an episode of his “Meet the Drapers” TV show with local entrepreneurs, and met with President Ranil Wickremesinghe on Tuesday to try and promote the adoption of cryptocurrency. However, when he journeyed to the central bank the next day, the embattled Governor Nandalal Weerasinghe was not as receptive to the idea.
It’s no surprise that the Sri Lankan government was not as enthusiastic about the idea of widespread adoption of Bitcoin. The country is currently in a state of financial turmoil, and Governor Weerasinghe is still working to calm the situation. Therefore, it’s understandable why the Governor wasn’t ready to jump on board with Draper’s proposal. Despite this, Draper still believes that the country could benefit from the adoption of cryptocurrency, and that it could help promote economic growth and stability.
Draper has been a long-time advocate of Bitcoin and other cryptocurrencies, and believes that the technology could revolutionize the way we do business. He believes that the adoption of cryptocurrency could help reduce transaction costs, promote financial inclusion, and increase transparency. Furthermore, he believes that it could also help to create a more secure and efficient financial system.
Despite the Sri Lankan government’s hesitation to adopt Draper’s proposal, the investor and cryptocurrency evangelist remains hopeful that the country will eventually embrace the technology. He believes that if the country can see the potential benefits of cryptocurrency, then it will be more likely to take the plunge and adopt the technology.
Tim Draper’s proposal to the Sri Lankan government shows the potential of cryptocurrency, and how it could be used to promote economic growth and stability. While the government may have been hesitant to embrace Draper’s proposal, the investor remains hopeful that the country will eventually come around and see the potential of cryptocurrency.
Source: www.bloomberg.com