A group of three organizations joined forces to develop a blockchain-based digital identification system for deployment in the Argentine capital.
A group consisting of technology firm NEC Argentina, a public organization Bitcoin Argentina and IDB Lab (a division of the Inter-American Development Bank), signed
agreement on the development of a blockchain system aimed at improving access to “quality goods and services” for residents of Buenos Aires.
The four-year project aims to provide blockchain-based digital identification to all residents of the city, which can improve access to financial services, especially for people living below the poverty line.
The initiative, also supported by technology giant Accenture, will first be launched in the Barrio 31 area and is expected to be launched later in two other “economically vulnerable” areas of Buenos Aires.
“By consolidating reliable and affordable digital IDs, the project ultimately aims to expand access to goods and services for residents of vulnerable areas, which will allow them to improve their opportunities for socio-economic integration as part of the fourth industrial revolution,” said the project team leader IDB Lab Erika Molina (Erika Molina).
Argentina is not the first to show its interest in blockchain technology. In the spring it became known that the government intends to invest
in blockchain startups in the early stages of development and supported by the venture division of the Binance cryptocurrency exchange.