On a recent visit to Sri Lanka, American billionaire Tim Draper pitched the idea of adopting Bitcoin (BTC) as a legal tender to fight against the corruption that contributed to hyperinflation in the island country. However, a key Sri Lankan authority — central bank Governor Nandalal Weerasinghe — believed doing so would worsen the country’s economic situation.
Taking time from a TV shoot in Sri Lanka, Draper met President Ranil Wickremesinghe and Weerasinghe to recommend Bitcoin as a viable option for getting out of financial problems.
During the meeting, Draper pointed out a key concern staring right at Sri Lanka:
“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.”
As he recommended using “decentralized currency” to the head of Sri Lanka’s central bank, he received a short “we don’t accept” reply. Weerasinghe further stated:
“Adoption of 100% Bitcoin won’t be…