WISeKey International Holding, a leading Swiss Cybersecurity and IoT company recently signed a cooperation agreement with the Argentine government to launch a Blockchain Center of Excellence in Buenos Aires.
This has been considered the first step in the massive plan of making Buenos Aires the next location for the 4th Industrial Revolution.
Between 2017 and 2018, WISeKey established Blockchain Centers of Excellence in the USA, China, India and Africa. Argentina shall, therefore, serve as the first country in the LATAM region to host a centre.
Argentina boasts an extremely qualified capital, with a working population that is highly skilled in technical matters. It has also admitted to being enthusiastic about the cooperation, stating that it is a clear sign that data centre projects in Argentina possess great potential in the economic and social sectors.
WISeKey has already begun making its presence felt in Argentina. Its first move was to localize Cryptographic Root of Trust (RoT) in the region. RoT basically hands individuals the power to have digital identities. It also ensures devices that are linked to Blockchain, Artificial Intelligence (AI) and the Internet of Things (IoT) are secure.
Some banks in Argentina have departments that exclusively deal with cryptocurrency companies. This is a sharp contrast to neighbouring Chile where all commercial banks closed down all accounts to cryptocurrency companies, basically closing down the industry in the process.
In this respect, a recent hackathon saw the Argentine Central bank award Singatura, a blockchain notarization project ARS $50,000 for placing second for the most innovative project. Singatura offers ‘financial passports’ to consumers, enabling them to share encrypted data using blockchain.
Argentinean entrepreneurs have admitted that blockchain is inspiring them to build business models that are impossible to corrupt, seeing as corruption is a major problem in the region. Additionally, blockchain has been identified as a possible solution to cure economic instability in the area.