Ivan Duque’s Blockchain Leadership Is Sparking A Crypto Revolution In Colombia

The new Columbian president has been famous for being pro-blockchain. In fact, he has assured that he will look to give multiple domains of the government better transparency through blockchain technology.

Corruption was the bedrock of Duque’s presidential campaign. He proposed that he is going to utilize various technologies to track information and have a greater control over how public funds traverse across the nation.

“I want mobile applications to be a mechanism from which the state can begin to think about how to facilitate citizens’ access to services. I am therefore proposing to use big data and blockchain as tools. Big Data in health, agriculture, infrastructure, technology, and security. If we want to make the bidding processes in the state more transparent, blockchain technology has to help.”

Mauricio Tovar, the co-founder of the Blockchain Foundation in Colombia, recently said that Bitcoin is heavily being used as a drug trafficking tool. He stated:

“Like any technology, it can be used for good topics and bad topics that is why it is important – for him(the president) – that the debate focuses on the positive aspects of digital currencies, such as being able to make transactions without intermediaries.”

On Cryptos, he added that although Colombia does not have as high as inflation like Venezuela or Argentina, they can be good tools to save value over time.

Although the possibilities of Blockchain is endless in Columbia, cryptocurrencies paint a more grim picture. Commercial banks have not missed an opportunity to hamper the expansion of cryptos. However, this did not prevent the country to have the highest Bitcoin buying and selling operations in 2017.

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