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Puerto Rico Ready To Fight Corruption Using The Blockchain Technology

Puerto Rico, a Caribbean island and an unincorporated territory of the USA is currently one of the most corrupt nations around the globe. Meanwhile, a huge number of locals live below the poverty line.

Notably, some days ago, the mayor of the municipality of Cataño pleads guilty to collecting over $100,000 in bribes. Also, some luxury watches in exchange for millions in municipal contracts.

While, In a recent interview for Bloomberg, Rafael “Tatito” Hernández confirms that he will start meeting with experts from the blockchain sector. Of course, this is to discuss creating “smart contracts.”
Also, as per Hernández, the transparency behind the technology will build Puerto Rico’s financial network, also reduce the level of corruption.

“We have a real credibility problem. And this might be part of the solution.”

More so, Hernández goes on to note that those meetings are a plan for a broader vision. Of course, to make Puerto Rico into a hub for digital assets and blockchain innovation.

Also, noting that the low taxes in the state and Bitcoin trading will attract more thousands of new residents.

Additionally, Hernández thinks that locals should focus on the cryptocurrency industry, seeing it has better job opportunities for them.

Lastly, Hernández explains.
“Back in the 60s and 70s, we had the niche of manufacturing…”
“This is a new niche, a new opportunity to create jobs.”

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