In the Argentine capital, Buenos Aires, residents will soon be able to resort to a Blockchain ID. As can be seen in a letter of intent, three companies are therefore seeking to develop a corresponding system in the metropolis. The companies involved are NEC Argentina S.A., the civil organization DECODES (NGO Bitcoin Argentina) and IDB Lab, the innovation laboratory of the Inter-American Development Bank Group. The duration is four years.
In the future, the new system "will improve citizens' access to quality goods and services in Buenos Aires through a manageable, secure, transparent and independent digital identity," said the press release.
Inclusion for the poorest citizens of Buenos Aires
Meanwhile, the capital of Argentina is known for the huge social gap between its inhabitants. According to the city administration, 16.2% of the inhabitants of Buenos Aires live below the poverty line. They have difficulty accessing goods and services because the barriers are greater for the poorest citizens. An important factor here is the lack of information on the lower social strata, which makes inclusion projects more difficult. The inclusion of the poorest citizens in services and public sector offers therefore also calls for higher costs for the community.
To remedy this, cooperation partners are now using Bitcoin & Co. technology. With the help of Blockchain, the new system will enable secure and reliable registration of information about residents in Buenos Aires at the same time. future, without compromising their privacy. In addition, users can control their own data. Non-bank citizens can still use financial services.
The Blockchain inclusion project is initially planned for Barrio 31. This neighborhood is considered one of the poorest of Buenos Aires and one of the largest slums in Argentina. Two other districts with a high proportion of socially disadvantaged residents are also expected to benefit from the system in the near future.
At the same time, the Blockchain ID project in Buenos Aires is far from the first cryptographic innovation in Argentina. For example, citizens can pay for public transportation using Bitcoin. The euphoria regarding digital currency goes so far that it is necessary to make Bitcoin the national currency of the country.