The current Argentine Minister of Economy has shown interest in new technological tools, such as blockchain, since his arrival as Head of Treasury. Sergio Massa stated that the proposed blockchain technology can monitor and control the processes undertaken by the State. Recently, the Argentine official proposed the implementation of a digital currency and revealed his interest in mining cryptocurrencies with gas from the main hydrocarbon field.
The Minister of Economy and presidential candidate of Unión por la Patria, Sergio Massa, proposed promoting blockchain technology. It would be to provide more transparency in the activities of citizens with the State, in case he wins the second round of elections to be held on Sunday, November 19.
The current Minister of Economy has shown interest in new technological tools since his arrival as Head of Treasury. His proposal was presented at a meeting with representatives from national universities, civil society organizations and institutions, and control organizations.
Candidate for President of Argentina Sergio Massa Wants Blockchain for State Control
Five days before the crucial definition with Javier Milei for the presidency of Argentina, Sergio Massa signed a public commitment to transparency. In addition to proposing that the Anti-Corruption Office (OA) be directed by an opponent, the official confirmed the sending to Congress of a new Ethics Law.
The minister noted the following:
“We have to build this stage in which ethics, integrity, the fight against corruption, spending control and transparency are part of our work agenda within the framework of a government of national unity. We live in the age of communications. I want every Argentine to be able to control the State accounts online from their cell phones and for each of the Argentines to have their blockchain when interacting with the State.”
Massa stated that the proposed technology can monitor and control the processes undertaken by the State:
“In this planning that the State must have, in addition to a blind application mechanism between both the contracting and the contracted parties, there must be a certain payment date in the bidding process itself, in the contracting process itself, and in the award process itself, because blockchain also gives traceability, gives certainty to the contracting party with the State, and controls public spending.”
Argentina: Sergio Massa’s Interest in Blockchain and Cryptocurrencies
Recently Sergio Massa proposed the implementation of a digital currency for Argentina. The Minister of Economy did not offer further details regarding this initiative, but everything suggests that it would be a version promoted by the Central Bank, that is, a CBDC.
The current president of Argentina, Alberto Fernández, signed a decree (207/22) that changes the statute of the Mint and enables the possibility of issuing a CBDC. The words of candidate Massa were part of the proposals raised in the first debate of presidential candidates.
Added to this is that the official candidate has also publicly shown his interest in mining cryptocurrencies with gas from Argentina’s main unconventional hydrocarbon deposit. This is “Vaca Muerta”, a shale geological formation located in the Neuquén basin. The deposit area is 30 thousand square kilometers, involving the provinces of Neuquén, Río Negro, La Pampa and Mendoza.
Meanwhile, the NGO Bitcoin Argentina presented a draft bill that seeks to regulate cryptocurrencies in that country. The proposal aims to advance while preserving decentralization and the protection of public savings and trust, aspects that it considers to be its main purposes. The initiative was presented at the LABITCONF 2023 event, held in Buenos Aires.
By Audy Castaneda