The SORA community has sent an open letter to the people of Sri Lanka to use the SORA (XOR) token as a legal tender. Currently, Sri Lanka is going through an economic crisis, causing political and social unrest, leading key players in Sri Lankan politics to resign while the people suffer from food shortages, electricity outages and economic mismanagement.
SORA recently participated in several events in Davos on the sidelines of the World Economic Forum. Project contributor Dr. Makoto Takemiya — along with experts such as former Toyota Financial Services CEO Hideto Ozaki and former Mitsubishi UFJ Bank chief manager of market infrastructure Taketoshi Mori, among others — penned an open letter inviting the Sri Lankan people to adopt XOR as a legal currency in alignment with SORA’s Many Worlds, One Economy vision. A longer exposition about the efficacy of using XOR to drive national economies is explained in a short paper, “The Case for XOR,” written by Dr. Takemiya.
This is the first time a blockchain-based project has reached out to a nation offering financial support for its country in a collaborative way. Unlike Bitcoin (BTC) adoption in El Salvador, where the government introduced a cryptocurrency that functions as a foreign currency outside of their control, the introduction of XOR would benefit the Sri Lankan people through governance processes that allow fund allocations to enable productive economic output, leading to sustained and impactful economic growth. This allows XOR to be treated as a domestic currency but with clear and transparent democratic oversight by token holders to prevent corruption and misallocation.
The open letter outlines the principles of SORA, its characteristics and the industry’s scope of implementation. It was translated to Sinhala and Tamil and published both in physical print and online in major Sri Lankan news outlets. The letter also highlights the use of XOR for trading the phygital — physical and digital — wine Noir.digital, which is an example of a productive economic use for the SORA network.