The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Central Bank of Argentina Pilots Decentralized Blockchain Tech to Optimize Country’s Largest Financial Institutions

by Daily Hodl Staff
April 22, 2020
in Blockchain

The Central Bank of Argentina is testing a decentralized system to optimize banking procedures.

Blockchain developer IOV Labs announced on Tuesday that its proof-of-concept will handle banking customers’ debit claims through a permissioned blockchain network. In addition to Argentina’s central bank, several major commercial banks have joined the trial, including Banco de la Provincia de Cordoba, BBVA and Banco Santander.

The solution, based on RSK’s enterprise smart contract technology, aims to optimize procedures among a network of banks, clearing houses, financial agents and providers, streamlining clearing systems and expediting the speed of fiat payments.

[the_ad id="93550"]

IOV Labs (Internet of Value) builds low-cost and secure platforms that are designed to power the new global economy.

The proof of concept is targeting the use of blockchain to send messages among banks and financial institutions. If the pilot is successful, it will serve as a springboard for a new clearing system offering end-to-end traceability that’s based on blockchain technology.

Diego Gutiérrez Zaldívar, CEO of IOV Labs, says the goal is to showcase the new technology through practical and commercial implementation, and to demonstrate how blockchain and smart contracts can be used to power transparent, secure and durable financial networks beyond cryptocurrencies.

“We are convinced that, by implementing this type of platform, the financial system will be able to build an integral, collaborative ecosystem in line with the current modern technological advances and on par with the world’s most innovative financial systems.

Given the global circumstances we are facing, we need now more than ever to use technology in order to optimize processes and provide better services to our citizens.”

After the initial central bank pilot, the participants will assess whether they can expand the network by adding more members and new features.

Last month, IOV Labs launched Gasnet, a blockchain network focused on Argentina’s natural gas distribution ecosystem. That network also uses IOV Labs-powered RSK smart contracts to streamline the user experience, lower costs and speed up the processing time for customers who are waiting for gas service installations.

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Mmaxer

Submit a Press Release

Industry Announcements

  • After $3 Million Private Sale and Seed Funding, AiONE Reveals Staking Platform
    June 9, 2023
  • TRON Mainnet Celebrates Fifth Anniversary and Stands Now As the Preferred Global Blockchain
    June 8, 2023
  • Blockchain Pioneer Acquires International Fashion House Blk DNM
    June 7, 2023
  • WOW EARN Launches Its Crypto Wallet on iOS and Google Play
    June 7, 2023
  • BinaryX and AiGC Labs Developing First AI-Powered Virtual Reality Game on the Metaverse
    June 7, 2023
  • The Importance of Crypto Payments in 2023
    June 7, 2023
  • Proof of Talk 2023 – Two Days To Restore Trust in Web 3.0 and Design the Future of the Industry
    June 7, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$25,689.88
$25,689.88
3.44%
Ethereum
$1,743.48
$1,743.48
5.4%
Cardano
$0.244361
$0.244361
22.72%
XRP
$0.495203
$0.495203
6.31%
Dogecoin
$0.059738
$0.059738
12.18%

Spotlight

  • BitMEX Founder Arthur Hayes Predicts a Bitcoin Bull Market Ahead, Says To Expect Fireworks – Here’s the Timeline
    June 3, 2023
  • Analytics Firm Santiment Says Bitcoin To Catch Up With Rallying Stocks, Updates Outlook on XRP and Litecoin
    June 3, 2023
  • Popular Crypto Analyst Bullish on One Ethereum-Based Altcoin, Says It’s Showing ‘Solid Strength’
    June 3, 2023
  • Analyst Nicholas Merten Says Hong Kong Allowing Retail Crypto Participation Is Good News – But There’s a Catch
    June 3, 2023
Coinfest Asia Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl