Sat 17 Sep 2022 ▪ 7:00 ▪
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Argentina is one of the countries in South America that invests heavily in cryptocurrencies. Its MPs usually introduce bills to facilitate the adoption of cryptocurrencies. Dario Nieto, senator of Buenos Aires, presented in particular a new bill. The text aims to approve blockchain systems for the payment of social campaigns. Offended by middlemen who use social campaigns to make money, Nieto hopes to eradicate him such practices with the adoption of blockchain technology.
Blockchain technology is increasingly used for transparency and traceability of certain activities. In a country plagued by embezzlement and tax evasion like Argentina, the approval of this technology would represent a significant step forward. At least that’s what it is Dario Nieto, the senator of the Argentine capital Buenos Aires. He wants his city to embrace blockchain technology to support the payment management of social campaigns. He also presented a bill to that effect in parliament.
This law, if it came into force, would put an end to various social welfare activities. Because many organizers use these campaigns to line their pockets. Some use it to force recipients to take part in political events. He did not fail to specify that: “The management of social plans has become a huge device used to make politics, with which the leaders of social movements exploit people with abusive practices, such as asking for the return of money, a percentage of the plan, going to protests and blocking the streets . ”
Nieto is in favor Blockchain adoption in Buenos Aires, because all payments are traceable with this technology. Furthermore, there will be n multiple third parties in transactions : “On the blockchain, the money comes out of the Ministry of Social Development and goes directly to the beneficiary, without asking for voluntary contributions, without favors such as attendance checks at pickets or marches. “, He added.
Nieto Dario and blockchain technology: a growing passion
Nieto Dario is known in Argentina for his particular affection for blockchain technology. With this bill, he shows his willingness to do it a little more revolutionize the way to control in his city and also in Argentina. The last bill of it was around the use of the blockchain for better control of public spending and contracts.
There is a lot to do with the rapprochement between Buenos Aires and blockchain-based technologies. The city is in the final phase of its modernization plan. It will use TangoID, a blockchain-based identification system. According to the government calendar, everything will be ready by the beginning of next year.
The city of Buenos Aires has a rather special connection with cryptocurrencies. Last month, the Argentine capital claimed to manage Ethereum nodes for regulatory reasons. Earlier this year, it announced its desire to support cryptocurrencies as a tax payment solution within the next year.
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PhD student in financial law and expert SEO web editor, Cédrick Aimé is passionate about cryptocurrencies, trading, etc. Thanks to his articles he naturally participates in the daily blockchain revolution for a better democratization of DeFi.