Blockchain has been growing in many different countries all over the world. The technology is able to revolutionize many different sectors and industries. And in Argentina, blockchain technology is also having a big impact.

Blockchain Changes Economies

There some few things to talk about. The country is embracing it very fast, as few other countries are doing. However, regulatory issues remain an important topic, since there is no clear legal framework for it.

Distributed ledger technology (DLT) allows companies to increase security and reduce costs.

According to Manuel Beaudroit, Bitex’s Chief Marketing Officer said that it is very interesting to see how the agricultural industry can be enhanced with the technology.

On the matter, Beaudroit explains:

“It is very interesting to see what can be done with ‘tokenization’ (that is, upload data to the blockchain, in this case, information about an animal, and keep track about it). This allows the company to move it and track it in the digital world.”

This can also be applied to other different products such as soybeans, wheat, grains and more.

Digital signatures is also an important industry were blockchain technology has a big impact. An important company in the country is Signatura, that provides solutions and tools in order to certify digital information. With it, it is possible to certify that certain information is real without having to depend on a third party.

Gonzalo Blousson, Signatura’s CEO, commented on the matter:

“Blockchain allows, for the first time in history, guarantee information immutability, without the need to trust third parties and everything performed in a transparent and auditable way.”

Clients that work with Signatura do not need to trust the company. The platform works using blockchain technology, which already guarantees that everything works smoothly and safely.

One of the main areas that blockchain technology can change is the financial world. It is possible to easily move any kind of asset from one party to the other in just seconds and almost no costs.

Edy Weber, CEO of Koibanx, has a company that works with blockchain technology that provides escrow services. He explained that a Colombian bank is giving its employees a gift in tokens that allow them to make different purchases such as food.

The retail industry is also being changed. According to Gabriel Kurman, co-founder of RSK Labs, using Bitcoin it would be possible for individuals to send and receive payments in all the country just by using a cell phone and without paying commission.

“It would be possible to create a bank that would allow two kids from Chaco (Argentine Province), for example, buy food on the street, or a person in Buenos Aires City send $50 dollars per week to its family in another province, just with its cellphone and without paying commission.”

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