A new proposal for a digital transformation law written by a group of Spanish legislators would allow mortgage payments to be paid with cryptocurrencies in Spain.
In fact, the new draft submitted by legislators from Spain’s Popular Party would regulate and legitimize numerous emerging technologies in the nation, including Bitcoin, blockchain, and artificial intelligence (AI).
On top of that, the draft law also includes other incentives, such as tax breaks, for firms and organizations that use and create solutions based on these technologies. For instance, the draft calls for smart contracts to manage various operations in banks that the law would cover.
As a matter of fact, the modernization of bank structures would enable the use of blockchain, cryptocurrencies, and smart contracts to carry out routine activities such as mortgage administration, as well as to streamline compensation and settlements generated from insurance policies.
