Bolivia Turns to Cryptocurrency for Energy Imports Amid Dollar and Fuel Shortages

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Bolivia’s state-run energy company YPFB has announced plans to use cryptocurrency to pay for energy imports, as the country grapples with a severe shortage of dollars and fuel. This move comes amid a significant decline in Bolivia’s foreign currency reserves, which has been exacerbated by years of decreasing exports of natural gas. The fuel crisis has led to long lines at gas stations and sporadic protests across the country.

A spokesperson for YPFB confirmed that the company has received government approval to implement a digital asset payment system to help meet the country’s growing fuel demands. “From now on, these cryptocurrency transactions will be carried out,” the spokesperson said, explaining that the initiative aims to support Bolivia’s national fuel subsidies, which are under strain due to the shortage of hard currency.

Although YPFB has not yet begun using digital currency for energy imports, it plans to do so in the near future. Bolivia, once a net energy exporter thanks to its large natural gas reserves, has seen its reliance on energy imports increase as domestic gas production has declined due to a lack of significant new gas discoveries.

China’s Manus AI Forms Strategic Partnership with Alibaba’s Qwen Team

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On Tuesday, Manus AI announced a strategic partnership with the team behind Alibaba’s Qwen AI models, a move aimed at strengthening the artificial intelligence start-up’s goal of deploying the world’s first general AI agent. Unlike traditional chatbots, which respond to user inputs, an AI agent can operate autonomously, executing tasks with minimal human intervention.

Manus AI, which officially launched last week, claimed that its performance surpasses that of OpenAI’s DeepResearch, a popular AI agent. The launch garnered significant attention on Chinese social media, with many comparing Manus AI to DeepSeek, a product by the Hangzhou-based creators of DeepSeek, which surprised Silicon Valley with a cost-effective AI chatbot that rivaled OpenAI’s best.

The partnership with Qwen could create further disruption in the AI industry, which is still reeling from DeepSeek’s emergence. Manus AI, which is part of Beijing Butterfly Effect Technology Ltd Co with offices in Beijing and Wuhan, has been promoting its product by completing various tasks for users for free on the social media platform X. However, the AI agent remains available by invitation only, and the company has admitted that its website is facing technical difficulties due to increased traffic.

The collaboration with Alibaba’s Qwen team is expected to help Manus AI handle the traffic surge and expand its user base. Meanwhile, Alibaba aims to enhance its competitiveness against rivals such as DeepSeek. The two companies plan to integrate Manus AI’s functions with Qwen’s open-source models and AI platforms in China, as announced on Weibo.

A spokesperson for Alibaba confirmed the partnership and expressed enthusiasm about collaborating with more global AI innovators. The Qwen team had previously responded to DeepSeek’s global success by releasing a model they claimed surpassed DeepSeek-V3, further intensifying the competition in the AI space.

South Africa to Remove Luxury Duty on Smartphones Under 2,500 Rand

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South Africa’s government has proposed removing the luxury excise duty on smartphones priced below 2,500 rand (approximately $136.37) starting from April 1, 2025. The move, announced in the National Treasury’s budget statement, aims to increase smartphone affordability for low-income households and promote digital inclusion across the country.

Currently, a 9% ad valorem excise duty is applied to smartphones, but this will only affect higher-priced devices once the proposal is implemented. This change is expected to significantly reduce the cost of entry-level smartphones, making them more accessible to a broader segment of the population.

Key Factors Behind the Proposal:

  • The proposal is part of South Africa’s efforts to encourage digital adoption, particularly among low-income groups.
  • By eliminating the duty for smartphones under 2,500 rand, the government aims to bridge the digital divide and enhance access to technology for underserved populations.
  • This initiative coincides with South Africa’s plan to phase out 2G and 3G networks by December 31, 2027, to make room for 4G LTE and 5G networks.

Concerns and Criticism:

Some critics expressed concerns that phasing out 2G and 3G networks might worsen the digital gap for low-income users, particularly those in rural areas who cannot afford the latest devices designed for faster networks. Communications Minister Solly Malatsi noted that the high cost of smartphones, partly due to the excise duties, has been a barrier to accessibility and that discussions with the Treasury were already underway to address this issue.

The move is expected to positively impact the country’s push for greater digital inclusion and accessibility in the coming years.