Columbia Government to Adopt Blockchain and Cryptocurrency

Columbia is set to adopt cryptocurrency and blockchain as the newly elected president continues to show his affinity for cutting-edge technologies.

The introduction of cryptocurrency and blockchain to the mainstream has increased the number of corporations and nations planning on adopting the technology.


New developments suggest that Colombia will be joining the crypto and blockchain train soon. President Ivan Duque revealed that he plans on restructuring the nation’s economy around cutting-edge technologies.

President Ivan Duque stated that he has always been a supporter of innovative technologies, therefore one of his priorities as president is to turn Columbia into the technology capital of the Southern American region. Therefore, the government will be hiring officials to have a keen observation on the country’s digital community.

The newly elected president explained that blockchain technology, used to track public funds can help to win the war against corruption.

In addition to this, he adds that ICT firms that can guarantee a specific number of jobs that labels five years tax relief. Apparently, this also applies to crypto and blockchain-based firm.

Also, there is major acceptance of President Duque’s commitment to the nation’s information and technology sector. Although, several believe that his little experience in diplomacy could end the nation’s peace. However, it is the deal with Revolutionary Armed forces of Columbia (FARC).

The Columbian government had earlier created a group dubbed INNOVA which will research on blockchain and cryptocurrency.

Columbia to Join Crypto-Friendly Nations?

If all goes to plan, Columbia will be joining the growing list of nations that have embraced blockchain and cryptocurrency. Japan is one of the few countries that has accepted cryptocurrency (Bitcoin BTC) as a legal tender.

In January, Malta’s financial regulatory body designed a framework solely for blockchain firms. The country went on to admit that it intends to become the “Blockchain Island”.

However, countries like Iran are yet to officially define the legality of cryptocurrency within its borders even though the nation is embarking on launching a state-backed token.

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Image Source: Blockchain and Cryptocurrency

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Ifeanyi Egede is an experienced and versatile blockchain/crypto writer and researcher on with tons of published works both online and in the print media. He has close to a decade of writing experience. When he is not writing, he spends time with his lovely wife and kids. Learn more about how Ifeanyi Egede could be of help to your business.

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