Paz, from the Partido Demócrata Cristiano, won the presidential runoff on October 19, 2025. He will start his term on November 8, 2025. His party’s plan puts Bolivia among a few countries trying out this tech for better government work.
The idea comes straight from the party’s official program. It talks about using blockchain in public contracting and smart contracts to handle deals without much human input. This helps remove chances for unfair choices in who gets government contracts. The election office made all party plans public for the 2025 vote, so voters could see what each group promised.
What Changed for Procurement After the Runoff
Paz ran his campaign during tough economic times in Bolivia. The country has faced high prices, fuel shortages, and money troubles. His platform focuses on fixing institutions to make them work better for everyone. One key part is a digital system for assigning public purchases.
Then, in “Estrategia 5,” it adds blockchain and smart contracts to automate steps in the process. The goal is clear: reduce room for random or biased decisions when awarding contracts. This could save money and build trust in the government.
The platform also includes other ideas tied to digital assets. For example, it suggests a fund to stabilize the currency. People could declare crypto assets during a program to regularize their holdings. This would help bring more money into the system without the government holding risky tokens. It’s a way to widen the tax base and improve cash flow.
How the Central Bank’s 2024 Rule Makes This Feasible
What makes this plan possible is a recent change from Bolivia’s central bank. In 2024, the Banco Central de Bolivia (BCB) ended a ban from 2020 on virtual assets. This happened through Resolution 082/2024, which allows regulated ways to buy and sell digital assets.
The new rule puts these operations into the regular payment system. Just three months later, the bank reported that trading amounts more than doubled. Most of this growth came from stablecoins, which are less volatile than other cryptos.
This shift is important for the procurement idea. Blockchain systems often use digital signatures, escrow accounts, or payments based on milestones. With the central bank’s okay, these tools can connect to secure tracks that auditors can check. As long as rules against financial crimes are followed, it opens doors for tech like tokenized proofs of work done.
Potential Impact and Global Context
This plan could be a game-changer for Bolivia. Corruption in public buying has been a problem for years, costing the country money and slowing growth. By using blockchain, which is a shared ledger that everyone can see but no one can change alone, Paz aims to make sure every step is tracked. Smart contracts can automatically release funds when conditions are met, like when goods are delivered. This reduces the need for middlemen who might ask for bribes.
Other countries have tried similar things. For instance, some places use blockchain for land records or aid distribution to prevent fraud. In Bolivia, with its economic challenges, this could help attract investors who want to see clean governance. The rise in crypto trading shows people are ready for digital tools. The BCB said transactions hit $430 million since the ban lifted, up over 530% from before. That’s a sign that the tech is catching on.
Paz’s Background and Implementation Challenges
Paz’s background as a centrist senator helps him push these reforms. He has talked about “capitalism for all” and fixing the economy with smart ideas. His win brings hope for change after years of political fights. But turning plans into action will take work. The government needs to train staff, set up the system, and make sure it follows laws.
In the end, if done right, this blockchain move could set an example for other nations. It shows how new tech can solve old problems like corruption. As Paz takes office, all eyes will be on how he makes this happen. Bolivia’s future might just get a bit brighter with more transparent government spending.
