Overview
This pillar focuses on leveraging blockchain technology to transform key sectors in Sri Lanka, including taxation, land registries, trade finance, e-commerce, healthcare, education, cross-border payments, travel and tourism, and government services. The introduction of a national cryptocurrency (SNC) through Government-Supported Public Offerings (GSPO) will be powered by sustainable, eco-friendly hydroelectric energy, creating a transparent, secure, and efficient financial ecosystem. This initiative positions Sri Lanka as a leader in digital governance, enhancing economic growth while adhering to legal and regulatory frameworks, both nationally and internationally. The plan further aligns with global environmental goals such as the Paris Climate Agreement and the United Nations Sustainable Development Goals (SDGs).
Projected Value
Projected Value 1-2 Years: USD 12.9 Billion
Projected Value 2-5 Years: USD 27.5 Billion
Revised Calculation and Assumptions for Pillar 2: Projected Value
The estimates below consider the economic impact of adopting blockchain, launching the Sri Lanka National Cryptocurrency (SNC) via GSPO, and the operational cost savings from leveraging blockchain and government-backed digital initiatives. Here’s the breakdown:
- GSPO Proceeds (SNC Launch):
- Fixed Supply: 100 billion coins.
- Initial Coin Price: USD 0.10 per coin.
- Total Revenue from GSPO: USD 10 Billion
- Potential Market Value Increase:
With wider market adoption and integration into sectors such as cross-border transactions, government payments, and remittances, the price could rise to USD 0.15-0.20.
- Blockchain-Backed Public Services:
Annual Savings: USD 200-300 million annually in efficiency gains.
- Green Partnerships Revenue:
As SNC is powered by hydroelectric energy, partnerships with green tech and renewable energy investors could yield an additional USD 1–2 billion in revenue over 5 years.
- Increased Foreign Investment:
By becoming a blockchain-friendly nation, Sri Lanka could attract fintech startups and international investors: Estimated FDI Increase: USD 500 million to USD 1 billion annually.
Conclusion
Adopting blockchain technology and launching the Sri Lanka National Cryptocurrency (SNC) through a Government-Supported Public Offering (GSPO) presents Sri Lanka with a transformative opportunity to modernize its financial and public sector infrastructure. With a total projected value of USD 27.5 billion over five years, this initiative will generate an immediate influx of capital from the USD 12.9 billion GSPO in the first year and create sustainable long-term growth through increasing market demand for SNC.