Blockchain News

Argentinian officials make deal with Blockchain Research Institute

The building of blockchain innovations

Based on a press release by the Blockchain Research Institute (BRI), they have gotten into a new deal with the government of Argentina. This deal will ensure that there is access to a myriad of different crypto-related resources in order to continue the development of various blockchain projects within the country.

Argentina has been very active in the blockchain space lately following a number of great implementations. One of their great partnerships was between the South American government and Binance, currently one of the largest cryptocurrency exchanges in the industry.

Binance lab venture will be offering a $50,000 grant to each of these projects through Argentina’s accelerating program.

There has been a massive increase in the number of bitcoin ATM’s installed in the country. With the public transport system dedicated to the adoption of crypto as a payment method in the country.

This has also helped to see an uptake of bitcoin and other cryptocurrencies usage in the country.

These BTM installations were possible thanks to the government’s adjustment to regulations which allowed Octagon, a subsidiary of the ATM Odyssey Group to install an estimated 30,000 BTM’s throughout the country.

Argentina will have more acces to resources

Back in February 2019, there was an announcement that Sistema Único de Boleto Electrónico (SUBE) will allow buses and subway passengers in the country to start paying with top-up SUBE card with the use of Bitcoins.

This service is available across more than 37 different cities in Argentina and will see users turn to crypto in order to escape inflation as the financial management in the country by political leaders have been poor.

Country’s like Venezuela have been devastated with its local currency experiencing massive inflation. Argentina has also been suffering from severe depreciation in its local currency.

Back in 2018, Argentina saw the second-highest inflation rate in Latin America going up to more than 47 percent.

Recent initiatives between the Argentinian government and the BRI will be providing officials access to over 100 projects, deliverables and webinars. This will also include access to many programs and events for corporation, governments and non-profit organizations.

There will also be a meeting in November 2019 between the BRI’s executive chairman and the co-authors of Blockchain Revolution Don Tapscott, Mauricio Mauricio, Andres Ibarra and the Argentinian President. This group will also be focusing on creating a Blockchain Research Institution Center of Excellence in the country.

These centers will acts as hubs for innovation according to the WiSekey International holdings CEO Carlos Moreira. The institution has successfully set up research institutions in Buenos Aires, India, Rwanda and Switzerland in order to build projects.

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coinmag

My occupation is the Research of blockchains and their practical applications in the economy. I have graduated through various levels of education, including electrical technique, Business, Psychology, and innovative technologies.

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