Three organizations have joined forces to develop a digital identity system using blockchain technology in the Argentine capital, Buenos Aires. Global technology company Accenture also announced its support for the initiative.

The Argentinean technology company NEC, the Argentine Bitcoin Organization and the IDB Institute of the Development Bank in the region have announced the signing of an agreement to develop a blockchain-based system with the aim of providing high-quality services to the residents of the Argentine capital.

The new project seeks to provide a digital identity based on blockchain technology to all residents of the capital, which aims to improve access to financial services, specifically for those living below the poverty line.

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The announcement stated that the focus will be on the “Barrio 31” area in the first phase, and in the second phase, it is expected to expand to low-income neighborhoods in the Argentine capital.

“We aim to improve access to financial services for low-income people in Argentina by promoting trusted digital identities,” said the project team leader at IDB Labs. He added, “This will allow them to improve their chances of integrating into society and the national economy, in addition to the new technological revolution.”

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