On a recent visit to Sri Lanka, American billionaire Tim Draper pitched the idea of adopting Bitcoin (BTC<\/a>) as a legal tender to fight against the corruption<\/a> that contributed to hyperinflation in the island country. However, a key Sri Lankan authority \u2014 central bank Governor Nandalal Weerasinghe \u2014 believed doing so would worsen the country\u2019s economic situation.<\/p>\n 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. <\/p>\n During the meeting<\/a>, Draper pointed out a key concern staring right at Sri Lanka:<\/p>\n \u201cHave you seen Sri Lanka in the news? It\u2019s known as the corruption capital. A country known for corruption will be able to keep perfect records with the adoption of Bitcoin.\u201d<\/p><\/blockquote>\n As he recommended using \u201cdecentralized currency\u201d to the head of Sri Lanka\u2019s central bank, he received a short \u201cwe don\u2019t accept\u201d reply. Weerasinghe further stated:<\/p>\n \u201cAdoption of 100% Bitcoin won\u2019t be a Sri Lanka reality ever.\u201d <\/p><\/blockquote>\n Instead, Weerasinghe believed that having Sri Lanka\u2019s own fiat currency was critical for monetary-policy independence and would ensure efficient inclusion and disburse electronic welfare payments.<\/p>\n \u201cWe don\u2019t want to make the crisis worse by introducing Bitcoin,\u201d Weerasinghe concluded.<\/p>\n Related: <\/em><\/strong>Australia introduces classification for crypto assets<\/em><\/strong><\/a><\/p>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/b0af3d6c-64c0-49d5-a355-58cea93f2bf7.png\")