Argentine central bank is interested in Bitcoin

The growing volatility of bitcoin in the past may lead to the assumption that central banks lose their interest in digital currencies. But: The Argentinean Central Bank is now proving the opposite with its interest. The origin of the interest statement from the Argentinean central bank was a recent hackathon. With the prospect of $ 10,000 worth of prizes, the participants dealt with digital technologies. Blockchain technologies have also been specifically addressed.

Among the three winners of the programmers, economists, and students, Signatura took second place. A little more than $ 3000 had the team got the idea to create a blockchain technology for digital credentials with Signatura. A product example was the ‘Financial Passport’, which is a kind of financial statement, with which owners can be proven. In particular, it should be possible to share information with business partners and to release data for certain persons. The blockchain should be used to encrypt all data at the same time.

This technology could be used, for example, for communication between private individuals and (banking) institutions. Amati explained the model to CoinDesk as follows: When a bank [the information] needs, for example for loans, they are requested via the platform and the customer can decide whether to allow the respective institute to access or deny access. In particular, Amati refers to the reduction of paperwork and the associated processing times of banks arising from the document requirement.

In specialist circles, the information is now circulating that the Argentinean central bank is interested in concepts such as, for example, Signatura.

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