The new Colombian President Ivan Duque aims to change the association of corruption and the Colombian government by implementing blockchain technology making government activities transparent and reducing fraud. Duque was noted staying: “If we want to overcome corruption, technology can be instrumental.”
The new president has a self-proclaimed “obsession” with technology and a vision of putting Colombia on the map of modern technological countries by improving the state of their technological services. One of the first steps that Duque plans to take in office is to deregulate the private investment sector. A local newspaper reported that Duque promised to reduce rent taxes for crypto startups and implement blockchain to monitor the movements of public funds.
With new power, come new tendencies, and now the crypto business can expect rent tax leniencies for the upcoming five years, with the condition that they will create new jobs.
WHY IS THIS IMPORTANT?
- In his statement, Colombia's president has announced his allegiance to blockchain technologies, which is good news for the crypto ecology of Colombia.
- These tendencies indicate that we could be one step closer to mainstream adoption of blockchain technologies.