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