NEC and Two Other Firms to Create Blockchain ID System in Argentina

NEC Argentina S.A., in collaboration with NGO Bitcoin Argentina and the Innovation Laboratory of the Inter-American Development Bank Group (IDB Lab) seeks to establish a blockchain-based identity system to improve access to quality goods and services for residents in Buenos Aires, Argentina.

The project is scheduled to last for four years, with a plan to kick-start in the most emblematic slum in Buenos Aires  Barrio 31, before it subsequently expands to two other cities within the country’s capital.

NGO Bitcoin Argentina has been assigned to execute the project, while NEC has signed on as a technology partner to contribute to the development of the digital identity solution.

According to the report, the project tends to alleviate the “poverty penalty” for the less privileged in the country’s capital, who cannot gain access to various governmental and private resources because of lack of a valid means of identification.

“The project aims to increase access to goods and services for the residents of vulnerable neighborhoods, thus allowing them to improve their opportunities for socio-economic inclusion in the fourth industrial revolution,” IDB Project Team Leader, Erika Molina said.

The Memorandum of Understanding (MoU) signed by the three firms would allow them to integrate Blockchain technology with the existing means of registration for residents living in vulnerable neighborhoods.

The recent study conducted by the Buenos Aires City Government showed that more than 16.2% of the inhabitants in Buenos Aires live below the poverty line.

This is caused mainly by inadequate information on the personality of the disadvantaged sectors of the population, which prevents the market from putting these individuals into consideration when creating goods and services to tackle their day-to-day need.

Per the report, digital identities will be given to residents in these locations, thus making provision for the secure records of people’s activities, giving them more control over their data and enabling services like digital wallets.

Additionally, the system will provide unbanked individuals with a digital wallet, allowing them to store and make payments while building a transaction history.