Deputies in Argentina will vote on the use of blockchain technologies for social payments

A member of the local parliament of Buenos Aires has drafted a bill that provides for the use of blockchain technologies to pay social assistance to citizens.

According to the author of the bill, Dario Nieto, the introduction of cryptocurrency social payments will help stop any speculation on the topic of social assistance. Currently, there are enterprises in Argentina that help their clients with the registration of preferential programs for a fee. Political organizations are also speculating on the topic of social benefits, offering citizens to become volunteers in exchange for benefits. «The management of social benefits has long been a tool in the hands of various political and social movements, where they are used to manipulate people,» Dario Nieto emphasized.

«Blockchain technologies will help make the system more transparent, as information on all payments and amounts will be available, and it will be impossible to change or delete anything from such a database. Thus, the money allocated by the Ministry of Social Development of Argentina will be received by those who need it.

Perhaps, in addition to receiving social benefits, Buenos Aires residents will be able to pay government fees and taxes using cryptocurrencies, as residents of the Argentine province of Mendoza already do. Thus, everyone can make payments through the portal on the department’s website using cryptocurrency wallets of Binance, Bybit, and Ripio exchanges.

As a reminder, the authorities and residents of Buenos Aires are already familiar with blockchain technologies. At the end of July, Newlink Capital presented a project of a new residential complex in Buenos Aires called Next Pampa 2.0, which will allow cryptocurrency mining and saving. According to representatives of Newlink Capital, a bitcoin mining farm will be located in the basement of the high-rise building, with the profits from which it will be possible to pay for construction and repair costs. Solar panels will be installed on the roof of the building to provide all apartments with sufficient renewable energy.