Rodrigo Paz, just lately elected as Bolivia’s subsequent president, has shared his intention to make use of blockchain know-how to cut back corruption in public providers.
Paz gained the presidential runoff with 54.5% of the vote and is predicted to take workplace on November 8.
His marketing campaign centered on centrist insurance policies and assist for open markets. Nevertheless, he’ll face a number of financial issues from the beginning, together with gasoline 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 economic system.
The primary proposal is targeted on authorities purchases. Paz desires to convey blockchain and good 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 includes the creation of a international change stabilization fund. Residents could be allowed to report their cryptocurrency holdings, which might be used to assist the fund.
The fund’s function is to assist management the nation’s forex worth and supply a backup for important imports, particularly throughout instances when US {dollars} are in brief provide.
Together with crypto belongings on this course of would give the federal government extra monetary choices with out requiring it to carry cryptocurrencies immediately.
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