Buenos Aires authorities to launch Ethereum validation nodes in 2023

The authorities of the Argentine capital of Buenos Aires intend to launch Ethereum nodes in 2023. This will help regulators understand how Ethereum works and develop rules for regulating cryptocurrencies.

Diego Fernández, Secretary of Innovation and Digital Transformation of Buenos Aires, announced this at the ETH Latam conference. He explained that this initiative is for research purposes, as the launch of Ethereum nodes will help to understand how the blockchain functions. Therefore, it will be easier for regulators to develop regulatory standards that cryptoassets must comply with. The nodes will be deployed in cooperation with private companies that will provide the necessary equipment.

Fernandez did not disclose the number of nodes or give a specific launch date. He noted that with this move, Buenos Aires will be one of the first cities in Latin America to host its own transaction validator nodes on the Ethereum network.

This is not the first time that the Buenos Aires authorities have shown interest in blockchain and cryptocurrencies. In April, the city administration proposed using the blockchain to pay taxes, as this technology will help protect citizens’ personal data. This initiative is part of the program for the automation and digitalization of the city.

Since last March, the Argentine government has been working on a blockchain-based TangoID platform to store personal information about citizens. The system will use Starkware, a layer 2 solution for the Ethereum network. Buenos Aires authorities expect the platform to be launched in January 2023. According to Fernandez, the main objective of the project is to create a digital collaboration system that will ensure the rapid exchange of documents and credentials.

Recall that last year the Port of Buenos Aires announced its readiness to implement blockchain in order to increase the efficiency of maritime cargo transportation and make cargo tracking more transparent.