Afghanistan, Tunisia to Issue Sovereign Bonds in Bitcoin, Bright Future Ahead

Afghanistan and Tunisia are planning to issue sovereign bonds in bitcoin to fund infrastructural developments, reported Asia Times from IMF’s Springs Meetings summit.
Khalil Sediq, the governor of the Central Bank of Afghanistan, confirmed that they were looking to utilize cryptocurrency and blockchain technology to raise around $5.8 billion. Sediq said they would pair bitcoin with a form of metal futures, such as lithium. The move would make it easier for Afghanistan to expose its $3 trillion lithium sector to investors across the world. The metal’s short supply against its booming demand in the electric-vehicle industry would pose profitable opportunities for Afghanistan.
Sediq went on to explain the situation that led them to opt for bitcoin over other fiat assets. The governor blamed the post-war conflict scenario that raised Afghanistan’s risk of debt. It prompted the IMF to expose the country to severe restrictions on non-concessional financing. In layman terms, developed economies were less likely to invest in Afghanistan owing to its risks limited to or beyond a geopolitical crisis, as well as to a perceived lack of fiscal and debt discipline.
Crypto solutions, explained Sediq, could allow Afghanistan economy to access global markets. He stated that they would use hyperledger’s blockchain technology financial services platform to issue their sovereign bitcoin bonds.
Bitcoin Bonds A Hot Topic
Blockchain and crypto payment solutions were a hot topic at World Bank and IMF 2019 Spring Meetings, held in Washington. The event saw delegates from developing countries posing cryptocurrencies like bitcoin as a potential solution to debt distress or high-risk debt levels. The discussions went on to question whether or not the current international financial architecture was able to prevent debt and economic crisis.

Bitcoin (BTC) Price Near Crucial Juncture With Bulls In Control
Monday April 22, 2019

Bitcoin price failed to gain momentum above $5,350 and corrected lower against the US Dollar. The price declined below the $5,300 level and tested the key $5,200 support area. There is a crucial bullish...

The post Bitcoin (BTC) Price Near Crucial Juncture With Bulls In Control appeared first on 12bitplay - Bitcoin Play.

I just uploaded “CI GCA interviews Aghanistan Central Bank Governor Khalil Sediq #IMFMeetings” to #Vimeo: https://t.co/L9MpKrWap0
— CapitolIntel (@CapitolIntel) April 15, 2019

Bitcoin (BTC) Trend Overwhelmingly Positive As Bulls Eye $5,400
Wednesday April 17, 2019

Bitcoin price formed a double bottom pattern near $4,940 and climbed higher against the US Dollar. Bulls pushed the price above the key $5,150 and $5,160 resistance levels. Yesterday’s highlighted major bearish trend line...

The post Bitcoin (BTC) Trend Overwhelmingly Positive As Bulls Eye $5,400 appeared first on 12bitplay - Bitcoin Play.

Sediq’s pro-bitcoin sentiments rippled through his Tunisian counterpart. Marouane El Abassi, Governor of Banque Centrale de Tunisie, told the meeting delegates that their country was looking to launching a sovereign bitcoin bond. The former World Bank official said the bitcoin and blockchain offered central banks an efficient tool to curb money laundering, terrorist financing, simplify remittance, and drain grey economies.
Javlon Vakhabov, Uzbekistan Ambassador to the United States, also revealed that they had dispatched a study group to the IMF World Bank to study bitcoin and blockchain. The delegate confirmed that they too were planning to issue sovereign bitcoin bonds in their cotton futures market.
Uzbekistan is the fifth-largest cotton producer in the world.
A Bright Future
The delegates’ positive take on bitcoin indicated the cryptocurrency’s vital prospects. A crypto-enabled bond escalates the industry into the world of mainstream finance. It further allows larger institutions to store value using bitcoin, thereby making it possible for others to use it as a payment method.
IMF director Christine Lagarde said the governments should initially issue bitcoin bonds using a closed and supervised approach. 
The post Afghanistan, Tunisia to Issue Sovereign Bonds in Bitcoin, Bright Future Ahead appeared first on NewsBTC.

$20k by 2041 False Even if Bitcoin (BTC) Is Maturing With Deep Liquidity
Thursday April 18, 2019

Bitcoin (BTC) trend is bullish but below Apr-11 highs Analyst says Bitcoin (BTC) may take 22 years to re-test 2017 highs Accompanying firm upsides is shifting sentiment and recovering prices. At spot rates, Bitcoin...

The post $20k by 2041 False Even if Bitcoin (BTC) Is Maturing With Deep Liquidity appeared first on 12bitplay - Bitcoin Play.

You may also like...