Buenos Aires to Run Ethereum Nodes by 2023 – News Bitcoin News

In 2023, the city of Buenos Aires plans to deploy a few Ethereum validator nodes. Diego Fernandez (secretary of Innovation and Digital Transformation of Buenos Aires) made the statements. He clarified that the deployment would be for exploratory and regulatory reasons and will assist the city in developing regulations regarding cryptocurrencies.

Buenos Aires, Argentina to deploy Ethereum Validator Nodes

As part of their growth and development plans, more and more cities include cryptocurrency and blockchain projects. Buenos Aires plans to have validator nodes on the Ethereum blockchain by 2023. Diego Fernandez (secretary of Innovation and Digital Transformation of Buenos Aires) reported the news at ETH Latam in the city, which is an Ethereum-centric conference.

Fernandez stated that the city’s interest in these nodes was exploratory and they expect that this will enable them to gain a greater understanding of Ethereum in order to better regulate cryptocurrency assets.

Private companies will deploy the nodes in collaboration with the government. There was no information from the secretary about the exact date or how many of these nodes will be deployed.

Buenos Aires will be the first city in Latam that hosts its own cryptocurrency exchanges with this decision.

ID and Crypto Taxes

It isn’t new to have an interest in crypto and blockchain structures. Buenos Aires has been interested in and proposing cryptocurrency-centric solutions since earlier this year. In April last year, the city made it clear that citizens would be able to pay taxes in cryptocurrency. According to reports, the initiative is part of an effort to digitize and automate certain functions within the city.

A platform is being developed by the government to allow citizens’ identities to be transferred to blockchain-based systems. Since March, the platform is known as TangoID. This system is expected to become operational in January 2023 by the Buenos Aires government.

Fernandez spoke out about this project and its goals:

This project aims to establish, with consensus from the community, a system for digital interactions. It begins with the exchanging of personal documents.

This whitepaper, already available to all, promotes the idea of self-sovereignity and will be run on Starkware, an Ethereum layer 2, protocol.

Do you have any thoughts about Buenos Aires operating its own Ethereum validator nosdes? Please leave your comments below.

Sergio Goschenko

Sergio is a Venezuelan 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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