New Colombia President Combats Corruption with Blockchain

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New Colombia President Combats Corruption with Blockchain

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The new president of Colombia, Ivan Duque, has announced that he is committed to using blockchain in the Latin American country in order to create more political transparency, writes Ethereum World News.

Corruption was a key issue of the recent presidential election campaign and Duque has targeted this as his number one task, promising to tackle this problem as he takes over power, commenting:

“What we most want is for Colombia united to completely smash corruption across all the territories… We are going to return to our population the hope and ability to believe in our institutions. We will be the government that like never before in our country will confront this cancer.”

In order to combat issues of corruption, he suggests that data tracking technologies such as blockchain will become an essential tool, particularly for monitoring how public funds are utilized, referring to mobile applications to “facilitate citizen’s access to services”.

He says that he intends to use big data in sectors such as health, agriculture, infrastructure, technology, and security. Big data is data sets that are so voluminous and complex that traditional data-processing application software is inadequate to deal with them.

The idea on utilizing blockchain in government in the country is not completely new, as agencies have been discussing its application in tackling some of the state’s central issues for some time, with Senator Antonio Navarro Wolff proposing similar moves to Duque’s recently in the government legislature.

As with many countries, there is a significant divide when blockchain is juxtaposed with Bitcoin and cryptocurrencies, with banks continuing to be a barrier to any meaningful development of crypto exchanges in Columbia. Despite this, the country recorded a massive growth in Bitcoin buying and selling operations in 2017 and is fast becoming a new home for neighboring Venezuelan economic refugees.

Director of Investopi Marcela Granada told the BBC that Bitcoin is primarily used for sending and receiving funds and as simple speculation, but with Bitcoin purchases using pesos increasing by 1,200% in 2017, such growth puts the country in third place behind China and Nigeria over the same period, according to the BBC.


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