Buenos Aires authorities to launch Ethereum validation nodes in 2023

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Authorities of the Argentine capitalBuenos Aires intends to launch Ethereum nodes in 2023. This will help regulators understand the principles of Ethereum and develop rules for regulating cryptocurrencies.

This was announced at the ETH Latam conferenceSecretary of Innovation and Digital Transformation of Buenos Aires Diego Fernández. He explained that this initiative has research purposes, since the launch of Ethereum nodes will help understand how the blockchain functions. Therefore, it will be easier for regulators to develop regulatory standards that cryptoassets must meet. The nodes will be deployed in collaboration with private companies that will provide the necessary equipment.

Fernandez did not disclose the number of nodes ornamed a specific date for their launch. He noted that thanks to this step, Buenos Aires will become one of the first cities in Latin America to host its own transaction validator nodes on the Ethereum network.

This is not the first time that Buenos Aires authorities have showninterest in blockchain and cryptocurrencies. In April, the city administration proposed using blockchain to pay taxes, since this technology will help reliably protect the personal data of citizens. This initiative is part of the city’s automation and digitalization program.

Since March last year, the Argentine governmentis working on a blockchain-based TangoID platform for storing personal information about citizens. The system will use Starkware, a layer 2 solution for the Ethereum network. Buenos Aires authorities expect the platform to be launched in January 2023. According to Fernandez, the main objective of the project is to create a digital interaction system that will ensure the rapid exchange of documents and credentials.

Let us recall that last year the port of Buenos Aires announced its readiness to implement blockchain to improve the efficiency of maritime cargo transportation and make cargo tracking more transparent.