Gustavo Petro’s government wants to create a Colombian digital currency


Recently the government of Gustavo Petro has announced a significant proposal regarding digital assets for Colombia; the new director of the DIAN Luis Carlos Reyes expressed the need for a methodology that can monitor transactions in tax matters to ensure proper functioning in the payment of taxes in all the country.

Since the election of the new president of Colombia, the possibility of executing a large number of projects related to blockchain technology, digital assets and cryptocurrency mining has been studied.

Colombia adopts blockchain against tax evasion!

On this occasion, the government of Gustavo Petro is contemplating the possibility of create a digital currency to facilitate transactions made by consumers and take advantage of the benefits offered by the blockchain to keep a much more efficient record in the payment of taxes.

Tax evasion in the country is presented as a problem to be addressed in the new mandate of Gustavo Petro and that according to Luis Carlos Reyes, director of the DIAN, “it is estimated that the figure for tax evasion is between 6% and 8 % of GDP in Colombia”.

Luis Carlos Reyes – director of the DIAN

In conclusion

Columbia, being the third country in Latin America that uses cryptocurrencies the most and it appears as leader in the development of a large number of blockchain projectswithout a doubt we believe that it is capable of adopting these technologies and value transfer methods to achieve 2 very important things.

On one hand for improve the speed of transfer when acquiring products or services and at the same time to guarantee a fair and efficient record in the collection of taxes at the national level.

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