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Ivan Duque's blockchain leadership is unleashing a cryptic revolution in Colombia

Ivan Duque's blockchain leadership is unleashing a cryptic revolution in Colombia

The new Colombian president is famous for being pro-blockchain. In fact, he assured that he will try to give more governmental domains better transparency through blockchain technology.

Corruption was the foundation of Duque's presidential campaign. He proposed using various technologies to track information and have more control over how public funds go through the nation.

"I want mobile applications to be a mechanism by which the state can start thinking about how to facilitate access for citizens to services, so I propose to use big data and blockchain as tools Big Data in Health, Agriculture, Infrastructure, technology and security: if we want to make the tender processes more transparent in the state, blockchain technology must help ".

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

"Like any technology, it can be used for valid arguments and negative arguments, which is why it is important – for him (the president) – that the debate focuses on the positive aspects of digital currencies, such as the ability to transact without intermediaries."

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

Although the possibilities of Blockchain are endless in Colombia, the cryptocurrencies paint a darker image. Commercial banks have not lost the opportunity to hinder the expansion of the cryptos. However, this did not prevent the country from having the highest Bitcoin purchase and sale transactions in 2017.

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