The Sri Lankan government has committed $10 million to drive digital transformation across key sectors, including financial services, healthcare, education, and government processes. A major portion of the budget will support the Sri Lanka Unique Identity Project (SL-UDI), aimed at creating a blockchain-based digital ID system.
The initiative is part of a broader effort to modernize the country’s digital infrastructure, with a particular focus on improving productivity and efficiency. The SL-UDI project is expected to be rolled out in 2025, supported by a $35 million contribution from India. The government also plans to introduce a new regulatory framework for digital services, including licensing for service providers and the creation of a Digital Economic Authority.
Sri Lanka aims to boost its digital economy, which is expected to contribute $15 billion annually by the end of the decade. In addition, the country plans to train 200,000 people in artificial intelligence, robotics, and new financial technologies. This renewed commitment aligns with Sri Lanka’s goal to lead digitization efforts in Southeast Asia and reduce cash dependency by adopting a central bank digital currency (CBDC).
Digital transformation, blockchain, Sri Lanka government
