Ecuador could launch his own National Cryptocurrency

A presidential aspirant in Ecuador has proposed that the country will launch its cryptocurrency. The presidential candidate further stressed that the national cryptocurrency won't be replaced by the normal currency in the country. It is will be used to carry out transactions all over the country.

With the mass adoption of cryptocurrencies all over the world and in numerous sectors of different duties, it feels like the right step to make. Giovanny Andrade hinted that the cryptocurrency will be part of the Ecuador government agenda. The only downside to this move is that cryptocurrency is aimed at giving people more freedom but the government might enact a way to make it work in their favor.

According to the presidential candidate Giovanny Andrade, during an interview, he said;

We are looking at ways to create an Ecuadorian cryptocurrency. This does not mean that we are going to escape from dollarization. We must support dollarization. It is essential that we create the cryptocurrency for all the internal benefits within the country, such as internal transactions. This would work very well for Ecuador.

Although the Latin American country lacks the proper technical know-how of pulling this out success alone. they would have a wide pool of talent from all our the world to consult with in order the make this a reality.

The presidential candidate further revealed that the national cryptocurrency to be created if he wins on February 7th won't be replacing the dollar. He further revealed that the crypto will be backed by the yellow metal gold.