Three Countries Express Interest In Issuing Bitcoin Bonds

It has recently been reported that three countries, Afghanistan, Tunisia, and Uzbekistan have said that they are considering the issuance of Bitcoin bonds in order to uplift their fledgling economies. Although nothing is certain as of yet, it seems that the governments are exploring this possibility with considerable seriousness.

A few days back, the Spring Meetings were being conducted for the World Bank and the IMF (International Monetary Fund) at Washington DC and while the discussions were on, the governments of these three countries expressed interest in the issuance of Bitcoin banks. They all said that these bonds were expected to salvage some critical areas of their respective economies.

Afghanistan, for its part, might possibly tether these Bitcoin bonds to various metals that are found in abundance in the country, with Lithium being a prime example. Because of existing rules in the country, there are some restrictions over the government borrowing against its metal reserves. However, as the country’s Central Bank governor Khalil Sadiq has explained, the use of of blockchain technology, especially Hyperledger, can possibly “offer a way to access international markets via a first-of-its-kind financial instrument made possible with hyperledger’s blockchain technology financial services platform.”

Tunisia, on the other hand, is more interested in exploring the use of blockchain to tackle issues of terrorism financing and money laundering. At the same time however, they are definitely considering the launch of Bitcoin bonds for empowering their country’s economy. They also floated ideas about offering a digital version of their existing fiat currency.

Uzbekistan is also considering a Bitcoin bond and speaking on that matter, the country’s US Ambassador Javlon Vakhabov said that the country is considering what form of a Bitcoin bond they should use.

Recently, IMF and World Bank also launched their very own Learning Coin to understand crypto and blockchain better and with these three countries admitting to be interested in crypto solutions, it is clear that the corridors of power in the world of finance are warming up to crypto.