Bolivia’s incoming president Rodrigo Paz plans to make blockchain a central weapon in his fight against corruption, marking one of Latin America’s most ambitious attempts to merge technology with governance reform.
Paz, who defeated Jorge Quiroga with 54.5% of the vote, takes office on November 8 facing a weakened economy hit by fuel shortages and a U.S. dollar squeeze. His centrist, pro-market agenda includes using blockchain and smart contracts to bring transparency to public procurement, ensuring state contracts can’t be altered or manipulated.
Another part of his plan allows citizens to declare crypto assets as part of a new foreign-exchange stabilization fund, giving the state a broader reserve base while creating a framework for legal digital holdings. The goal is to diversify Bolivia’s reserves without adopting Bitcoin as legal tender—a pragmatic move that treats crypto as a financial tool, not ideology.
Digital Assets and Bolivia's Evolving Financial Landscape
The proposals build on Bolivia’s growing embrace of digital assets. In 2024, the Central Bank lifted its ban on crypto transactions, allowing regulated trading. Since then, Banco Bisa launched USDT custody, major brands like Toyota and Yamaha began accepting stablecoins, and state oil firm YPFB explored crypto payments for imports.
Bolivia also signed a memorandum with El Salvador, calling crypto a “reliable alternative” for modernizing payments. If Paz delivers on his blockchain agenda, the country could become a model for how emerging economies use digital infrastructure to restore public trust and financial stability.