Argentina’s Presidential Candidate Sergio Massa Suggests Using Blockchain for State Finance Oversight

Presidential candidate and Economic system Minister Sergio Massa has proposed to develop a system to permit residents to manage and monitor state finance utilizing blockchain tech in Argentina. At a latest presidential marketing campaign rally, he declared that Argentines “ought to have the ability to management state accounts with their cell phones,” interacting with the nationwide funds.

Sergio Massa Discusses Blockchain Monitoring for State Accounts in Argentina

Sergio Massa, a presidential candidate and the Economic system Minister of Argentina, proposed implementing a blockchain-based system to watch state accounts and the execution of the nationwide funds. Massa declared that this technique would profit the residents and the nation, growing the transparency of the bills and incomes by making this information accessible to the inhabitants.

At a rally, Massa acknowledged:

We dwell within the age of communication. I need each Argentine to have the ability to management the state accounts on-line from their cellphone. So every of the Argentines has their blockchain when interacting with the state.

Moreover, Massa burdened that this proposal was framed into the development of a brand new stage of the nationwide authorities, wherein “ethics, integrity, battle towards corruption, spending management, and transparency” can be a part of the work agenda of his upcoming administration.

Transparency in Finances Spending

Massa described a mechanism to determine contracts between the Argentine state and firms executing state funds work utilizing this blockchain system.

He defined:

On this plan that the State should have, along with a blind utility mechanism between the contracting celebration and the contracted celebration, there have to be a sure cost date within the bidding course of, within the contracting course of, and within the award course of.

He praised blockchain tech, concluding that it offers traceability and certainty to state contracts and serves to manage public bills.

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Massa, who will face libertarian Javier Milei in a runoff election on November 19, has additionally proposed the creation of a nationwide digital forex that will be a part of a plan to carry the economic system to formal channels, mixed with a tax discount scheme.

One other of his plans consists of utilizing pure fuel from Vaca Muerta, one of many largest oil fields within the nation, to mine bitcoin. In a latest interview, he acknowledged he supported the thought as a result of “discount within the carbon emissions” of the exercise.

What do you consider Sergio Massa’s proposal to develop a blockchain-based system for monitoring funds bills in Argentina? Inform us within the feedback part beneath.

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