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Sofia Manzano: what is the presidential candidate’s opinion on cryptocurrencies?

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on the eve of election, it is important to know the positions of candidates on different topics. One of them are the cryptocurrencies.

As it is a new and constantly changing subject, the topic can be on the agenda during the elected government.

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In the case of candidate Sofia Manzano (PCB), the topic was mentioned in an interview with the news portal Livecoins. Given the Communist ideology of the PCB, it was to be expected that the candidate would be aligned with a more critical approach to the matter.

In addition to declaring that he is “totally against” the use of Bitcoin with a currency of forced course in Brazil, the candidate says she does not believe it is a real bargaining chip. But she says she sees that technology can bring positive things.

Bitcoin is not currency

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In an interview with Livecoins, the candidate says there is a confusion between currency and cryptocurrencies.

As he explains, money is not just an intermediary of exchange, a medium of exchange, it is a much broader social relationship.

“In various moments of monetary crises, for example, populations invent other exchange intermediaries, however, these exchange intermediaries do not become money or currency in their full functions. So cryptocurrencies, or crypto assets, can be exchange intermediaries in a virtual internet environment, but they are not actually currency,” he said.

Regarding El Salvador, she says she believes that even though it has legalized it as a currency, it actually does not represent an important means of exchange in the country’s economy.

The candidate also argues that, due to its high volatility, Bitcoin has caused communal damage to the country, which is yet another reason why I do not believe that it is, in fact, a currency of exchange.

The candidate ends the interview with the news portal by declaring that she is totally against the adoption of Bitcoin as a legal tender, as well as any other currency other than that of the country itself.

Blockchain is privatizing the internet

The candidate comments what also about the crypto technology it’s the blockchain as structure. According to her, technology can be used for good causes.

The blockchain makes it possible to ensure the veracity, legality, legitimacy of transactions that are made on the internet, in the virtual environment, with virtual objects, he says.

“It ends up being a registry office for the true identity of transactions that are made on the internet.”

At the same time, the economist criticizes the way the technology has been used. For her, blockchain is about the “privatization of the internet” movement.

“In capitalism, for various things to work according to the need for capital accumulation, they need to become private property, they need to become exchangeable, exchangeable, tradable. And something that is free is not private property, and it is not tradable. The blockchain then enters this process to guarantee private ownership of things produced in the virtual environment.”


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O Money Times publishes informative articles of a journalistic nature. This publication does not constitute an investment recommendation.

Source: Moneytimes

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