Brazilian Presidential Candidate Stands for Blockchain
Main page News, Cryptocurrency, Blockchain, Brazil
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7 August

The candidate for presidency from the Partido NOVO of Brazil, João Amoêdo, voiced his opinion about blockchain innovations and cryptocurrencies.

According to Amoêdo, blockchain should be implemented in various areas of the public sector. He is confident that the use of distributed ledger technology in government institutions will increase the transparency of documentation, reporting, property registration, and signature recognition.

Amoêdo also responded positively about cryptocurrencies. The presidential candidate does not consider digital assets a threat to the traditional banking system. He only stressed the need to create legal regulation for the sector in order to ensure the safety and legality of this activity. The main thing is for these rules to not be too rigid, so that they don’t create problems for the emerging market.

The candidate for presidency explained: “I do not think they [cryptocurrencies] are a threat to the traditional banking system. I see advantages in providing another means of payment for consumers.”

Amoêdo said that he did not doubt that bitcoin could be considered a legitimate way of payment: "If both parties want to exchange a product via bitcoin, I do not see any legal barriers to doing so."

WHY IS IT IMPORTANT?

1. In October this year, Brazilian voters will come to the polling stations to select a new president, vice president, members of Congress, governors and other state officials. João Amoêdo invites them to vote for innovation.

2. It’s worth noting that Partido NOVO is already actively working on the creation of an innovative fintech platform, as well as on the integration of the blockchain into electronic voting, the state administration and the system of digital identification of citizens.

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