IDB and EOS will use LACChain’s two blockchain networks: Besu and EOSIO Network. They will handle blockchain projects by offering better solutions for digital identity and unbanking.
Block, one developer of the EOSIO platform joined forces with LACChain, the Inter-American Development Bank Group (IDB Lab) innovation laboratory, to accelerate an open and interoperable blockchain ecosystem in Latin America.
According to the statement that appeared this February 25, Block. one will contribute its technical experience to empower many entrepreneurs and Latin American governments to consolidate their blockchain projects in their countries. This empowering will happen thanks to the already existing providers in the region. The statement refers explicitly to EOS Costa Rica and EOS Argentina, where some organizations apply EOSIO to improve their economies, supply chains and upgrade their infrastructure.
Bart Wyatt, vice president of blockchain engineering at Block. One said: “In this technical advisory role, we look forward to helping LACChain drive adoption and awareness of the EOSIO platform through educational programs, deeper technical collaboration, and community engagement initiatives,”
In that sense, the co-founder of EOS Costa Rica, Edgar Fernández, clarified that they had provided a trustworthy and reliable infrastructure for blockchains during the last six years in a region like Latin America.
“We look forward to accelerating blockchain adoption by combining our specialized regional expertise with the innovation and broad reach of the IDB’s Block. One,” Fernández said.
The LACChain and Principal Specialist leader at BID Lab, Alejandro Pardo, said that the organization intends to guarantee the performance, usability, and construction of the technological infrastructure.
This Guarantee is necessary to support further development of applications that might cause a positive impact on the inclusion of the Latin American communities where they operate.
Pardo also said: “LACChain currently serves as a techno-legal framework that enables business use of blockchain with transformative impact, not just as a simple new protocol,”
The LACChain platform’s creation dates to 2018 with the participation of companies with this kind of technology in the region. The IDB works together with IBM, MIT Media Lab, Ethereum Foundation, Consensys, RSK, Hyperledger, and multilateral consortia such as Enterprise Ethereum Alliance (EEA) and the Spanish Alastria.
To move forward in implementing solutions for the urgent problems of the Latin American public secto, they have already settled previous collaborations. This fact means that the LACChain ecosystem currently has 40 in the Latin American Region.
LACChain currently works with two blockchain networks that apply the LACChain framework: LACChain Consensys Quorum Network (also known as Besu) and LACChain EOSIO Network.
Both LACChain and Besus adhere to 78 nodes that have generated more than 21 million blocks and are being used in 24 projects in different deployment phases, receiving an average of 12,000 daily transactions during January 2021.
With the above infrastructure added to the EOS projects in the region, there are probabilities that the agency can help more Latin American countries to implement solutions to problems related to economic instability, lack of identification for migrants, unbanking, and corruption or irresponsibility in the industrial sector.
By: Jenson Nuñez
