4 hours ago
Bolivian President-elect Rodrigo Paz plans to usage blockchain for nationalist procurement and see crypto successful plus declarations for a caller fund.
Bolivian President-elect Rodrigo Paz plans to tackle corruption successful his country’s authorities utilizing blockchain technology.
The Associated Press reported Monday that Paz defeated rival Jorge Quiroga 54.5% to 45.5% and is acceptable to instrumentality bureau connected Nov. 8. Paz won Sunday’s runoff connected a centrist, pro-market connection and inherits an system strained by substance shortages and a US dollar squeeze, according to the AP.
Rodrigo Paz won Bolivia’s run-off statesmanlike predetermination connected Sunday. Source: APFor crypto observers, Paz’s authorities program includes 2 factual proposals related to integer assets and blockchain.
Blockchain joins Bolivia’s betterment agenda
The archetypal is simply a program to usage blockchain and astute contracts successful nationalist procurement. The Partido Demócrata Cristiano’s authoritative 2025 authorities level programme pledges the exertion of blockchain technologies and the usage of astute contracts to region discretion from authorities purchasing. The connection aims to tackle corruption successful authorities purchasing by automating immoderate declaration processes.
Related: Suriname the adjacent Bitcoin Nation? Crypto inspires Parbhoe to combat corruption
The programme would fto citizens state crypto assets into a caller foreign-exchange stabilization fund, seeded done an asset-regularization thrust that explicitly lists crypto. Such funds are reserve pools utilized to dependable the currency and wage for indispensable imports erstwhile US dollars are scarce, according to the US Treasury Department. Including crypto broadens what the authorities tin taxation oregon rapidly person to hard currency without holding volatile tokens.
Paz looks crypto-pragmatic, but is not a Bitcoin (BTC) maxi. His level frames blockchain arsenic an anti-corruption instrumentality and treats declared crypto assets arsenic portion of a one-off plus regularization propulsion to capitalize a currency stabilization fund. There’s nary grounds yet of a argumentation to follow BTC astatine the nationalist level, clasp it successful reserves oregon to rotation retired retail legalization.
Bolivia embraces integer currency payments
Cointelegraph has tracked Bolivia’s crypto argumentation crook since 2024. The country’s cardinal bank, Banco Central de Bolivia, lifted an operational ban connected crypto transactions successful June 2024, authorizing regulated physics channels and signaling a modernization of payments. Months later, mean monthly integer plus trading doubled versus the anterior 18-month average, the slope said.
The displacement continued into the existent economy. In October 2024, Banco Bisa launched USDt (USDT) custody for institutions, a archetypal mover among Bolivian banks. In March, authorities lipid steadfast YPFB was reported to beryllium exploring crypto for vigor imports amid US dollar scarcity. By September, large car brands’ section distributors, including Toyota, Yamaha and BYD accepted USDT, reflecting rising merchant-side experimentation.
On July 31, the cardinal slope besides signed a memorandum with El Salvador, calling crypto a “viable and reliable alternative” to fiat and pledging practice connected argumentation and quality tools to modernize payments and boost inclusion. The slope said monthly crypto trading volumes person reached $46.8 cardinal per period and $294 cardinal year-to-date by June 30.
Magazine: Back to Ethereum: How Synthetix, Ronin and Celo saw the light
English (US) 