According to recent reports, several Argentinian organizations have formed a partnership that will lead to the development of a multi-service blockchain platform that will assist different public and private sectors.

Forming the Federal Blockchain of Argentina (BFA)

A number of organizations, including the Argentine Internet Chamber of Commerce, NIC Argentina, and the Universities Association for Interconnection Networks will be working on the collaborative initiative. The BFA’s objective will be to encourage adoption of blockchain solutions across public and private sectors.

At this time, the first stage of the project has been deployed. Work has begun on setting up 15 distributed servers, whereas developers are working on a framework that will be used to power up decentralized applications.

More on the matter

As it’s based on blockchain technology, the BFA will be immutable and transparent. From a user standpoint, the project will offer a trusted, verifiable, and fast digital ledger that the public can use, whilst eliminating third-party involvement.

The project will represent a step in the right direction for the country, especially since the blockchain market in Argentina is rapidly expanding. Currently, 30 blockchain-related start-ups are operating domestically.

According to the organizations involved, the BFA will be operational by the end of the year. Yet, the collaborators have stated that the system will not be associated with digital currencies.

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