Brazil Presidential Candidate Calls Bitcoin A Legal Form Of Payment

Nishanth Shetty

August 7, 2018 1:49 pm

Blockchain News

Brazil Presidential Candidate Calls Bitcoin A Legal Form Of Payment | Coindelite News
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Joao Amoedo, Brazil’s New Party presidential candidate, shared his thoughts about the blockchain innovation and called Bitcoin as a legal method of payment.

This October, voters will be heading to vote in the country’s general elections to decide the next president and vice president, Congress, governors, and other state officials.

João Amoêdo, the candidate of the new party, Partido NOVO has told that new party is running on a platform for new financial innovation that includes the integration of blockchain in electronic voting platforms, accountability in public management, and establishing digital identities online.

According to the report, he discussed his concern for developing the country and government offices by using blockchain systems.

He named few areas of government and public sector that could benefit from blockchain implementation.

These days many of the blockchain projects are focusing on the supply chain management. João Amoêdo mentions problems with identifying where in the chain the contamination starts. Blockchain Technology can be used to resolve these issues faster and save money and lives.

Amoêdo is sure that blockchain in government offices can improve transparency in document authentication, real estate registration, and signature recognition.

He said:

“I do not think they are a threat to the traditional banking system. I see advantages in providing another means of payment for consumers. The most important thing is to guarantee an institutional framework that will generate more certainty for investors, companies and even policymakers.”

Amoêdo thinks that regulations will be crucial in bringing the security and assurance to support large investors to engage.

He included:

“The most important thing is to guarantee an institutional framework that will generate more certainty for investors, companies and even policymakers. I believe it is premature to define rigid rules that delimit a market that is still under formation.”

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