Bolivia transitions to Blockchain for transparency under the new leader

Bolivia's elected president Rodrigo Paz will put blockchain at the center of his anti-corruption strategy, aiming to modernize governance and increase transparency. He, who won with 54.5% of the votes, will take office on November 8, facing a weakened economy due to fuel shortages and USD. Paz's plan includes implementing blockchain and smart contracts in public tenders to prevent contract modifications, as well as allowing citizens to declare cryptoassets into the foreign exchange stabilization fund, helping to expand national reserves.

After the Central Bank of Bolivia lifted the cryptocurrency ban in 2024, many businesses such as Toyota, Yamaha, and Banco Bisa have accepted or supported stablecoin transactions. If Paz's blockchain plan is implemented, Bolivia could become a model in Latin America for applying digital technology to restore trust and stabilize the economy.