- Buenos Aires is planning to set up Ethereum validator nodes in 2023.
- Diego Fernandez reveals the statement at the ETHLatam conference.
- Population in Argentina will explore the adaptable regulation for crypto.
During the ETHLatam conference on Thursday, the secretary of innovation and digital transformation of Buenos Aires, Diego Fernández announced plans to set up Ethereum validator nodes in 2023. In addition, he also shared the innovation and the regulatory purpose of this effort as well.
Considering the plans and the deployments, Buenos Aires will be one of the first cities in the world where the government initiates to deploy its own cryptocurrency nodes.
Thus, Fernández shares that the city of Buenos Aires will join hands to “develop adaptive regulatory activities” for crypto space.
Buenos Aires rolls out Ethereum nodes
Over recent years, topics like cryptocurrency, blockchains are becoming more popular, attracting a large number of users to explore the digital world. Thus, the market is witnessing a lot of cities adopt these trends as part of their growth plans. In that case, the government of Buenos Aires is planning to deploy Ethereum validator nodes by next year.
Following, Fernández reveals the plans to deploy these nodes will be processed under a regulatory sandbox. As it is already approved by the Buenos Aires legislature in 2021. Moreover, the main purpose to run these nodes is that it will allow its city of 3 million people to explore the in-depth knowledge of ETH chain to regulate digital currencies in a smooth way.
More so, the secretary adds,
“The objective of the operation is to develop flawless digital interactions starting from exchange of documents and personal credentials between the people.”
Additionally to this unique development, the government is also focusing on bringing innovative platforms to deliver the identity for its citizens on blockchain. The project is named TangoID which has been in process since last March.