Mexico proposes a national blockchain for public transparency

The federal government of Mexico placed again the magnifying glass on the benefits that would bring to the government administration the implementation of a national public blockchain. 

Under these arguments, the State will try to implement a "datification" of the national economy through the blockchain that it is developing. Image: Pixabay
Under these arguments, the State will try to implement a "datification" of the national economy through the blockchain that it is developing. Image: Pixabay

The Aztec Ministry of Economy showed special interest in distributed networks as a way to improve transparency and for society to benefit from accountability.

During the development of the course Fundamentos de Blockchain y Criptomonedas, held in Mexico City last Thursday, October 10, Daniel Casados, technology advisor to the Ministry of Economy, stressed that although blockchains have become a massive issue because of cryptocurrencies, they have a potential that has not yet been fully discovered.

"The idea and the great challenge we have set ourselves is to make a national blockchain, what we have called the transparency network. There will participate different actors from Mexico, on the one hand, will be the federal government, in this case, is headed by the Ministry of Economy, but we think it will be expansive to the rest of the government (...) would also participate the industry (startups) which is a fundamental element and academia," said Casados during the event and in meetings with digital media.

The advisor did not offer details about the blockchain to be developed, but said that although it is national in nature, it is not the government, which will be public and highly collaborative. A request for comments on this project has not yet been answered by Casados.

The authorities of the aforementioned secretariat visualize their project as a "triple helix" between government, academia, and business, whose engine would be the society to which the benefits of transparency would be paid.

Data and national economy

The academic meeting also served as a stage for Graciela Marquez Colin, Secretary of Economy of Mexico, to explain the reasons why the authorities have approached the so-called Distributed Accounting Technology (DLT).

"Many of the projects that we have are in what we have called the data economy, and we have taken it as a flag (...) It is an important moment to build a platform that adapts and is an instrument of support to all productive sectors," said the official.

Under these arguments, the State will try to implement a "datification" of the national economy through the blockchain that it is developing.

In order for public officials to understand how blockchains work, an alliance was established with the Internet Association MX, Blocks EDU (Canada), the Blockchain Institute of Technology and Polymathy High Tech for the realization of this type of courses.

Mexico has also proposed, in the past, the use of blockchains to combat, for example, fuel theft. In the field of cryptocurrencies, the country maintains a regulation through the Law to Regulate Financial Technology Institutions (ITF), known as Fintech.

Distributed accounting technology allows, among other things, transfers between two or more people without the intervention of third parties. Its introduction to the world of technology occurred for the first time through the creation of Bitcoin.

Source: Cripto Noticias

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