NEC signs agreement for blockchain ID project in Argentina

Monday 26 August 2019 09:48 CET | News

NEC Argentina has signed a Memorandum of Understanding with NGO Bitcoin Argentina and the Innovation Laboratory of the Inter-American Development Bank Group (the IDB Lab).

The aim of this agreement is to launch a four-year blockchain-based digital identity project, which intends to promote inclusion in Argentina. It will first be deployed in Buenos Aires before expanding to other low-income neighborhoods.

The goal of this project is to increase access to goods and services for the residents of vulnerable neighborhoods, and to facilitate their opportunities for socioeconomic inclusion. It was set up to alleviate the ‘poverty penalty’, which punishes those below the poverty line for a lack of paperwork or other forms of identification. The problem affects those who are struggling because they are unable to prove their identity when they try to gain access to various resources.

The use of blockchain will allow the three companies to create secure records of people’s activities, giving them more control over their own data and enabling services like digital wallets.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: NEC, inclusion, blockchain, ID project, Argentina, digital identity, digital wallets, financial services, economic inclusion, IDs
Countries: World

Industry Events