Binance CEO Discusses Cryptocurrency’s Alignment with Bhutan’s Happiness Philosophy
During a visit to Bhutan, Binance CEO Richard Teng explained how cryptocurrency principles complement the country’s Gross National Happiness (GNH) framework. He highlighted crypto’s potential to enhance financial inclusion while supporting Bhutan’s unique development approach.
Bhutan’s Development Model Meets Digital Assets
Introduced in the 1970s, Bhutan’s GNH philosophy emphasizes well-being over economic metrics. The GNH Centre Bhutan describes this as balancing material progress with spiritual values. Teng noted that despite crypto’s volatility, its underlying technology can empower underserved communities through decentralized finance solutions.
Bhutan’s Progressive Crypto Adoption
Under King Jigme Khesar Namgyel Wangchuck’s leadership, Bhutan has embraced digital assets through initiatives like hydro-powered Bitcoin mining. The country now holds over 13,000 BTC, ranking among the top national holders globally.
Overcoming Adoption Challenges
While Bhutan partners with Binance for crypto payment solutions, infrastructure limitations remain. Improved connectivity could accelerate adoption and support the country’s happiness-focused development goals through increased economic opportunities.
