Buenos Aires Might Implement Blockchain Systems to Make Social Aid Payments – Bitcoin News

Dario Nieto (a lawmaker in Buenos Aires) has presented a bill which would make it possible to use the blockchain system to distribute social aid. Nieto expressed concern about how these intermediaries can make their money through social campaigns and suggested that blockchain could eliminate them.

Social Aid Blockchain Law in Buenos Aires

Because blockchain technology can be traced to every implementation, there are many systems that use it. Dario Nieto is a senator from Buenos Aires. He proposes to make blockchain a central part of a system that manages social assistance payments. To do this, he proposed a bill to bring an end to many activities that are derived from such programs.

According to Nieto, social assistance payments are often used by various intermediaries for money laundering or forcing recipients into political activity. Nieto said:

Social plans management has evolved into a large apparatus for doing politics. The leaders of social movement extort people by using abusive methods such as asking money returns or a percentage from the plan.

Nieto stated that the blockchain tech could be a solution to this problem, as it makes payments transparent and removes middlemen. He explained:

Blockchain allows money to be transferred directly from the Ministry of Social Development to its beneficiary without the need for any voluntary contributions or favors like attendance control at marches or pickets.

Blockchain in a city

Nieto introduced this blockchain-based bill not once before. Nieto has already presented a bill using blockchain technology to monitor state contracts and purchases.

Buenos Aires, Argentina has adopted blockchain technology as a key part of its infrastructure. In the last stages of the implementation of TangoID, a blockchain-based identity system, the city has been modernizing. The government of Buenos Aires declared it aims to get it up and running by January 2023.

In August, it declared its intention to run Ethereum nodes in order to learn more about the blockchain for regulatory purposes. April saw the confirmation by the city that cryptocurrency will be accepted for tax payments in 2023.

In this story, tags
Argentina, Blockchain, Buenos Aires, dario nieto, Ethereum, intermediaries, Payments, Regulation, social aids, state contracts, Taxes

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Sergio Goschenko

Sergio, a Venezuela-based cryptocurrency journalist. Sergio is a cryptocurrency journalist based in Venezuela. He says he was late to the party, having entered the cryptosphere during the December 2017 price increase. His background is in computer engineering, but he also lives in Venezuela and was impacted at the social level by the crypto boom. He offers an alternative perspective on the success of cryptocurrency and the benefits it has for the underbanked.

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