How Bitcoin Cash Can Help Sri Lankan Economy

I was checking out the international news and wanted to check how the economy in asia is going on. Being an asian, I have noticed that BCH has a huge impact here. I wonder how it would help many small nations for the development of economy.

Initially I wrote an article on leofinance on how crypto can help the economy of various nations like Sri Lanka. I made different points below than that article. Considering Sri lanka is asian nation and I want asia to grow.

So here's my way to point out how Bitcoin Cash should be used in Sri Lanka to improve the finances.

Let's find out what is going wrong with the Sri Lankan economy. The current state shows that the Fuel prices are at the high time in their history. So the food, rent and many other costs are rising as well.

So the economy would take more years to recover unless there are offshore funds or some sort of means for the economy to recover. In such case crypto can be useful for helping the economy.

Start Accepting BCH & crypto in Shops

This is a small step but it all adds up. Every day Sri lanka has a lot of interesting travelers who travel in the nation. And they can pay using the crypto of any type. But imagine if they start to accept the BCH, they could have low fees and also quick transactions too.

Many places like St.kitts and places from Australia, Carribean, New Zealand have already started asking for the BCH in the small shops. And that all adds up. It would move the money quickly in your wallet.

And this would help many small business. And the countries growth would slowly kick in as well. So accepting the BCH in small shops, boats, bars and the food courts can be a good start. I have seen that many places have establish crypto economy like this.

Onboard Writers, Creators, Freelancers from Sri Lanka to Crypto

We have platforms like noise.cash, read.cash and many others like hive. Those platforms have means to earn the crypto. And those crypto can later be exchanged in the binance like places.

Where you can exchange the crypto for the USD. Which means you are in much better financial position when you exchange your crypto for the USD. So start with one thing which is onboarding new people.

Make sure to invite more sri lankan authors. And get them on various platforms which pay you in the crypto like say read.cash, noise.cash and hive. This would be a good start for the earning crypto income.

Govt paying International Loans, Debts using BCH or Crypto

It helps when not just the normal citizen but the govt also gets into the action mode. And they also make the crypto legal tender and start to pay the international debt using the crypto or the BCH.

This would be a good start for any crypto currency to get started with the management of the debt. Make sure to work on that in such case for the citiens and not just for politicians benefit.

As the economy is down most of the changes need to be made by the govt. And also get the people to work on those changes. This is a good start for many people to change their careers, learn about crypto and add some sort of the side hustle that can pay them.

Long term Plans with Crypto

Accepting BCH and overall any crypto as a legal tender is just a start. Long term benefit of those crypto acceptance is long term. You are going to benefit out of it if you plan the growth accordingly.

When country is planning crypto as an asset and working on the global expansion. It helps the nation as well as the overall growth of the people and in turn the nations economy as well.

I personally think that by adding the crypto into the Sri lankan economy, BCH and many other crypto platforms can help the economy and they would not remain expensive nation or the broke economy anymore.

What do you think?

I am not by any means financial advisor. These are just my views. But I feel that the BCH has the power to change the economy. And if done right this can change many nations economy if properly handled.

What do you think? I'd appreciate your comments :)