Bolivia plans to tokenize gold on Ethereum

Source: Criptonoticias Original Title: There’s a plan in Bolivia to tokenize gold on Ethereum Original Link:

Bolivia plans to tokenize gold on Ethereum

• This initiative commits to traceability of Bolivian gold starting from the mines.
• The current government is integrating crypto assets into the financial system.

An ambitious plan will tokenize gold and other precious metals on the Ethereum network, proposed by a group of Bolivian entrepreneurs to the Rodrigo Pas government. Led by Asoblockchain Bolivia member Edwin Portugal, the initiative aims to combat corruption and lay the groundwork for the economic crisis the Andean country is experiencing.

Portugal has experience with emerging technology projects in Bolivia, and he provided an exclusive detailed explanation of the plan to the media. “This is the tokenization of minerals, precious metals, and strategic metals,” he explained, emphasizing a comprehensive approach that will allow tracking from the mine to its final destination in Bolivia’s reserves.

This complete traceability system promises to provide solid protection against national wealth fraud. Considering that Bolivia’s gold reserves are currently pledged to the central bank, this proposal becomes particularly relevant.

However, Portugal emphasizes Bolivia possesses vast untapped mineral wealth, with gold, lithium, and rare earth reserves far exceeding current production. “We have gold worth billions of dollars that has not yet been extracted,” he stated.

“If we are to extract the still sleeping gold underground, we should start with full traceability from the mines,” Portugal said.

Seeking Traceability from Gold Mine to Final Consumer

For him, the key is to extract this wealth in an orderly and traceable manner. “If we are to extract these resources, we should track them on the blockchain from the mine to the final consumer, so no one can deviate even a gram,” he said. This traceability prevents smuggling and ensures revenues truly flow to the country. Additionally, “through origin tokens, we record cases where mercury is not used, which causes significant environmental damage,” he added.

Nevertheless, Portugal does not shy away from the challenges. “Bolivia is a completely corrupt country; everyone wants to steal,” he said, while calling for the urgent implementation of blockchain-based e-government for all online processes.

“It is traceable and transparent; a network of thousands of computers will not be corrupted,” he argued, and suggested that the country could develop a gold-backed token for trade, as a form of its own central bank digital currency (CBDC).

His proposed model mimics the approach of the Kingdom of Bhutan, which launched a gold token supported by its sovereign reserves on the Solana network in December 2025. Bolivia seeks a similar balance.

Bolivia will export 10 tons of gold annually via tokens

This entrepreneur sees great potential in this initiative, which will democratize gold. Based on his estimates, Bolivia could position itself to export up to 10 tons of gold annually through tokens.

The current government, only one month into power, seems willing to open its doors to innovators. Although Portugal urges the appointment of experts at the deputy minister level, it is unfortunate that “the hope is for emerging tech talent to manage these,” he warned. He cautioned that without proper structural changes, the risk of bureaucratic stagnation lasting twenty years remains.

Portugal ended on a hopeful note, looking forward to “new plans” that will accelerate a country’s digital sovereignty — despite the country’s current poverty, it has vast untapped resources like lithium and quinoa. According to his vision, these resources should also be tokenized.