President of Brazil Jair Bolsonaro has appointed economist Roberto Campos Neto as the head of central bank who happens to be a Blockchain and Crypto enthusiast.

According to an article from Reuters, Campos Neto is pushing for the advancement of technologies by submitting a letter to the Senate outlining his involvement in various technological innovations in several banks and the financial sector.

He said:

“I have studied and dedicated intensely to the design of what will be the financial system of the future. I participated in studies on blockchain and digital assets. One of the contributions I hope to bring to the Central Bank is to prepare the institution for the future market, where technologies advance exponentially, generating more rapid transformations, “.

Mr. Neto would need the endorsement of the Senate in order to take over the position as head of the central bank. This entire process is expected to be completed by the end of March this year. If he gets elected he is more likely to implement Blockchain solutions in the banking and financial sector.

The current government of Brazil has not taken any stance on Cryptocurrencies. The appointment of Campos Neto could further bring clarity on Crypto assets as he familiar with DLT and Cryptocurrencies.

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