Argentine Government Looks up to Blockchain Technology

Argentine Government Looks up to Blockchain Technology

Key Insights

  • Argentina to set up National Committee for blockchain technology.
  • Blockchain technology to help in public audits and citizen identification.
  • Russia, Buenos Aires, and other countries to adopt blockchain technology.

With several countries, including Russia looking up to blockchain opportunities, it is no different for Argentina. The government recently established a blockchain committee to ensure the adoption of blockchain technology at the state level. Argentina's recent document also indicates the potential of blockchain technology to bring about positive changes in the country.

National Blockchain Committee of Argentina

With the ever-expanding nature of blockchain, most countries are slowly recognizing its significance. Though some countries were apprehensive of blockchain, most seem to have changed their perspectives. Hence, most countries currently acknowledge blockchain technology's benefits in public operations. 

Following the current expansion of blockchain technology, Argentina published a document directing the creation of a blockchain committee. According to the document, the committee would "act as an interlocutor in the local blockchain ecosystem promoting the interoperability of blockchain technologies and a good government."

Uses of Blockchain Technology

Argentina recognized several benefits of blockchain technology in public administration and operations. One of the primary goals of blockchain technology, as recognized by the government, would be to aid in audits. The technology will also help Argentine citizens understand how the government uses public funds, guaranteeing greater transparency between the government and the people. 

Argentina also recognized the utility of blockchain technology in aiding citizen identification. The technology will help in the identification process of its citizens and promote greater security. Implementing such a technology would help the country overcome forgeries and scams through fake IDs and other government documents. 

Other Countries to Adopt Blockchain Technology

The benefits of blockchain technology are not under-recognized anymore. Several countries, previously apprehensive of blockchain technology, are slowly adapting it for their benefit. For instance, Russia is all set to develop a global payment network using blockchain technology. Vladimir Putin, the President of Russia, also recently acknowledged the benefits of blockchain technology in public administration. 

On the other hand, Buenos Aires will launch its blockchain initiative, Tangoid, by January 2023. The city would also run Ethereum nodes to understand the cryptocurrency's operations better. All countries are doing their bit to understand the nature of operations in blockchain and implement it in their public functions.

After all, the rest must catch up with several countries advancing in their digitized mission and setting up huge milestones in the blockchain era. 

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