Colombia has joined the ranks of many countries that have introduced and embraced Blockchain technology and have looked to virtual currencies as the future of payments.
Ivan Duque, the newly elected President of Columbia has been very clear about the need to push modern technology into the mainframe and other government officials have also expressed a keen interest in the role Blockchain and the incorporation of cryptocurrencies can play.
The recently held annual ANDICOM conference in Columbia was a clear indication of the President’s interest in the Blockchain. El Tiempo, the Columbian news outlet explained how Ivan Duque’s “obsession” is to transform Colombia into a technological leader and how the government should spearhead such a change, he also mentioned that a government official will be appointed to solely focus on the virtual society.
Corruption is seen as a major vice in the Colombian Economy and is one of the main targets through the implementation of the Blockchain, thereby the funds of the public can be better utilised. At the ANDICOM conference, President Duque said: “If we want to overcome corruption, technology can be instrumental,” citing the use of Big Data and Blockchain that can help eradicate corruption.
Another important step voiced by Duque is that the companies in the communication and technology fields would be exempt from taxes for the preliminary five years, only if they created a certain number of jobs. It is inferred that this policy would include companies in the Blockchain field as well.
The President has company in this stance, Antonio Navarro Wolff, a Colombian Senator said that Blockchain can help change the lives of citizens, with reference to securing the voting system and assisting in public resource management.
The Colombian government has also taken steps to better understand Blockchain technology, reap its benefits and secure its citizens by setting up the INNOVA group.
Image source: Shuttershock
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