Global Network of Policy Makers for Freedom

Global Network of Policy Makers for Freedom

A p r il 2 0 2 2 | V o l . 1 , N o . 4

#LGDC

GNPF DAO provides technical services for politicians interested to use crypto for human development

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Investigation, legislation and local currencies.
The Blockchain week in París

Editorial

The development of local money or LGDC, passes through a necessary adaptation of the current legislation, which is fundamental for the implementation of any new service in a Local Government.

While not all new services require regulatory reform, such as the use of NFT’s by the Municipality of Rio de Janeiro to promote tourism and culture, or the generation of new resources through Bitcoin mining in Guatemala, and even the administrative management of services carried out by different municipalities using Blockchain; this does not mean that existing legislation should not be examined by avoiding future shocks and incompatibilities.

At present, tax collection through cryptocurrencies is carried out in different local governments, without reserving these currencies and seeking their immediate conversion to legal tender currency (fiat); so that regulatory conflicts are avoided, but this limits the advantages that can be obtained not only from cryptocurrencies, but from the blockchain.

The issuance of local digital currency (#LGDC) does require the enactment of new legislation, both at local and national level, that provides legal security to transactions made by citizens.


One of the technical services offered by the GNPF to local governments is the necessary advice, which allows optimizing the legislation that regulates the issuance of local digital money. This service is provided, through an alliance with the Institute of Virtual Personality. In this magazine, the Lic. Pedro Chaves, President of the Virtual Personality Institute, provides valuable information on this topic.

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Twitter: @polforcrypto

Imágenes revista

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In this section we will find initiatives that promote economic and social development through tickets, tokens and the like.

INVESTIGATION, LEGISLATION AND LOCAL CURRENCIES

The implementation of local digital currencies requires a review of current
legislation and the enactment of new regulations, which regulate and promote
the use of them, not only as a currency of exchange among citizens, but in the
provision of public services.

At the GNPF, we talked with Lic. Pedro Chaves Corrales, lawyer, notary, university professor, researcher, specialist in Commercial Law and current president of the Virtual Personality Institute. Lic. Chaves has published some studies regarding the virtual personality and was part of the Board of Directors of the National Registry of Costa Rica, which promoted the process of digitizing physical documents, which were previously in volumes, as well as public access via the Internet of all the registration information contained in the relevant public register. But what is the Virtual Personality Institute?

The Institute of Virtual Personality is primarily an academic institution. In the
academic part we study, analyze and promote everything that has to do with the virtual personality, everything that has to do with that footprint that we leave natural persons or legal persons at the time we are part of the conglomerate of a network through the Internet, when we enter the world of everything that is crypto in general, everything that is shopping, information
handling, etc., that we do on the web, there is our footprint and that imprint is our virtual personality, which at some point we hope will not only be virtual personality, but virtual legal personality, and that it will be adequately recognized in the laws and documents and regulations that must be promulgated.

This confirms an inversely proportional relationship between the Global Network of Policy Makers for Freedom (GNPF) and the Virtual Personality Institute; The latter is responsible for providing services to those local governments integrated to the GNPF and that require legislative reforms for the implementation of local digital currencies; these reforms are not always necessary, according to the Lic. Chaves, the first thing is a decision by the local government.

First of all, local governments must be aware of the need for this local currency. When you have that awareness, you start with an agreement of the Municipal Council or the governing body that facilitates the development and exchange of a currency in your canton, and you must start receiving the payment of all taxes in that currency.
Currency itself does not have a value; a duly satisfied need is one that generates value, which is translated into a currency that has a certain effort.

It is clear that after the agreement of wills by the local government, the gradual normative changes must proceed; that is, first an executive decree, then the legal scope and finally the constitutional rank, with the establishment of the virtual personality as a fifth generation human right.

Although the implementation of local digital currencies does not depend on the virtual personality, both themes have close links, in the understanding that the development of the first generates an impact on the second. Let us remember that the virtual personality, covers any action developed by an individual in the digital sphere, such as the payment of taxes, acquisition of goods or sale of services, etc., that is carried out by means of digital currencies and that sometimes, for reasons of security and transparency, uses blockchain, being able to identify the user to perform such processes and linking it to a natural or legal person.

Do not be afraid to start, the process is simple, the modifications are not so many. When we are not prepared, we only encounter obstacles, but in reality, the world is already prepared and our country more than ever is prepared for this change. Our legal system is a noble and just legal system. And when you find nobility and justice together, we usually have a very good result. So, these modifications require the first step, which begins with taking that agreement.

Change requires a great will, a desire to promote equity among people and ensure greater transparency and security in the management of public funds, no matter how difficult the changes can be and taking advantage of the tools offered by different instances, such as the Virtual Personality Institute.

To see the full interview and obtain more information, you can visit the website https://www.youtube.com/watch?v=ufGKQ6YKx7c

CRYPTO #LGDC NEWS

This section has the most important news about the implementation of local digital currency and its different uses.

Phoenix and the payment of utilities in Bitcoin

During the last months, different cities worldwide have implemented the payment of municipal services through cryptocurrencies, ensuring greater transparency, and therefore the increase in collections; the most recent example is the city of Chandler in Arizona, which seeks to make its inhabitants pay for their public services through the newest technology, despite the fact that … see more

Austin - TX, investigates the legality of tax payments in Bitcoin

On Thursday, March 24, the Austin City Council approved a plan to investigate the legality and necessary
reforms, to accept the payment of municipal taxes, as well as other collections on Bitcoin and other digital assets. Reflecting the constant search at the local level, to implement innovative proposals, which attract investment not only from large cryptographic companies, but from local residents, who trust in the transparency of … see more

Intel and the cryptomining

The rapid expansion of cryptocurrencies and specifically of local digital currencies, as well as the possibility of local governments mining the latter, has caused the chipproducing company to turn its gaze to the United States, where hundreds of miners seek economic and ecological options to mine, despite China’s prohibitions and the scarcity generated by the pandemic, so new ones have been created … see more

Río de Janeiro will accept Bitcoin in 2023

According to Mayor Eduardo Paes, starting in 2023, the inhabitants of Rio de Janeiro will be able to use Bitcoin to pay their property taxes. However, this does not mean that the city will use cryptocurrencies in other operations, as immediately collected, they will be converted to Brazilian real. In January, Mayor Paes indicated that they would use 1% of their … see more

Contact us

write to us at: gnpc.lgdc@gmail.com
Website: https://gnpc.info/
Twitter: @polforcrypto