The Secretary of Innovation and Digital Transformation of Buenos Aires, Diego Fernandez announced that the capital city will begin to run Ethereum nodes from next year, 2023. He said this during ETH-Latam, an Ethereum-based event held in the city to enhance the development of blockchain projects in Argentina, and the South American continent.
The project will help foster the development of crypto-based ideas as well as help the region create good regulations for cryptocurrencies, the Secretary said. If this happens as stated, the country will be the first to do so as a government-backed project. The deployment of the nodes will be a public-private partnership endeavor for the greater good of the people.
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Argentina and Blockchain Development
Three years ago, Argentina and Binance discussed the possibility of having a crypto-fiat collaboration where the exchange will support any investment up to $50,000 that is backed by the government.
In April this year, citizens were allowed to pay taxes to crypto to incorporate the technology into the financial system of the city. The TangoID is another innovative move proposed by the government for the populace. TangoID is meant to give citizens control over their data at any time. TangoID which has a Whitepaper already will be decentralized, running on Starkware, a layer 2 chain on Ethereum.
Accessibility will be granted to individuals, government organizations as well as other firms that wish to be part of it. Operations are expected to kickstart between the end of this year and the beginning of next year, 2023.
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