Rodrigo Paz, not too long ago elected as Bolivia’s subsequent president, has shared his intention to make use of blockchain expertise to cut back corruption in public providers.
Paz gained the presidential runoff with 54.5% of the vote and is anticipated to take workplace on November 8.
His marketing campaign targeted on centrist insurance policies and help for open markets. Nevertheless, he’ll face a number of financial issues from the beginning, together with gas shortages and restricted entry to US {dollars}.
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As a part of his upcoming administration’s plans, Paz has launched two blockchain-related proposals aimed toward enhancing transparency and boosting the financial system.
The primary proposal is targeted on authorities purchases. Paz needs to deliver blockchain and sensible contracts into the general public procurement course of. The federal government hopes to cut back corruption by making the method extra automated and fewer depending on particular person decision-makers.
The second a part of the plan entails the creation of a international alternate stabilization fund. Residents can be allowed to report their cryptocurrency holdings, which might be used to help the fund.
The fund’s objective is to assist management the nation’s foreign money worth and supply a backup for important imports, particularly throughout occasions when US {dollars} are in brief provide.
Together with crypto property on this course of would give the federal government extra monetary choices with out requiring it to carry cryptocurrencies straight.
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