The capital of Argentina and an agglomeration with greater than 12 million residents, Buenos Aires will make blockchain an important a part of its digitalization drive. Particularly, the town will settle for public monetary transactions in crypto.

As metropolis Mayor Horacio Rodríguez Larreta revealed in his Steve Jobs-styled presentation on April 25, the 12-step improvement plan titled “Buenos Aires +” envisions a big improve in crypto and blockchain adoption.

Con Buenos Aires + vamos a dar un paso más en el camino hacia un Estado facilitador que desburocratice y agilice los procesos. Un camino en el que el Estado sea el que se acerca a la gente, y no al revés. pic.twitter.com/yi6fUMmAUI

— Horacio Rodríguez Larreta (@horaciorlarreta) April 26, 2022

Town authorities intend to launch a platform for residents’ digital IDs that may maintain all the required data, reminiscent of start dates and vaccine certificates, medical data, schooling paperwork. To guarantee that such delicate knowledge is well-protected, the platform will run on distributed ledger know-how (DLT). As Larreta emphasised in his speech:

“All that data stream, which can widen in a geometrical development, might be protected by blockchain know-how […] We’re going to change into the pioneers of that know-how adoption so the customers might management their knowledge on their very own.”

The transfer would mark the second step out of 12 in the direction of the digitalized Buenos Aires. What’s much more intriguing is that the ninth step entails the choice for residents to pay their taxes in cryptocurrencies. Whereas the town, itself, gained’t maintain crypto on its public accounts, it is going to convert the residents’ cryptocurrency transactions into Argentinian pesos.

As Buenos Aires’ Secretary of Innovation and Digital Transformation Diego Fernández laid out in a separate assertion, the town goes to accomplice with native crypto exchanges, reminiscent of SatoshiTango, Buenbit, Ripio and Belo, to facilitate such funds.

In December 2021, Ethereum founder Vitalik Buterin visited Buenos Aires throughout Web3 protocol The Graph’s launch anniversary. On that sojourn, he had a gathering with the previous president of Argentina, Mauricio Macri, who additionally occurs to be the ex-mayor of Buenos Aires and Larreta’s fellow member on the “Republican Proposal” social gathering.