Edwin Rojas: "Bitcoin can rebuild Bolivia's economy"

Crypto-assets can greatly simplify and speed up transactions as they are less dependent on traditional banking systems, the Central Bank governor said.

The introduction of cryptocurrencies could be beneficial as the country is experiencing economic difficulties and a shortage of U.S. dollars, the official lamented. With the help of bitcoin, the monthly transaction volume with foreign countries, which has recently dropped by 50%, will be able to recover to a higher level, the Central Bank governor hopes.

The Central Bank has launched an educational program for students and journalists. The educational seminars will include talks on the basic principles of cryptocurrencies, regulatory aspects and the risks associated with digital assets.

Bolivia's Central Bank has been skeptical of cryptocurrencies for years due to their volatility. However, at the end of June, the regulator lifted the ban on bitcoin transactions.