Bolivia’s President-Elect Plans Blockchain Overhaul to Combat Corruption

Bolivia's incoming president Rodrigo Paz is staking his reform agenda on blockchain technology, aiming to tackle systemic corruption in government procurement. The Christian Democratic leader, who secured 54.5% in Sunday's runoff, inherits an economy battered by hyperinflation and depleted reserves when he takes office November 8.

The centerpiece proposal involves implementing immutable ledgers and smart contracts for public purchasing processes. This decentralized system would automate bidding, evaluation, and payment stages—effectively removing human discretion from a system long plagued by graft. The move marks a radical departure for a nation that maintained a cryptocurrency ban until 2022.

Paz's narrow congressional majority provides political capital for the digital governance push. The technology could restore transparency to a procurement system that's drained Bolivia's foreign reserves to just 2% of their former levels. Market observers note the plan could spur institutional blockchain adoption across developing economies facing similar challenges.