Brazil, Feb 28, 2021 /AlexaBlockchain/ – Block.one has Joined LACChain Global Alliance to deploy blockchain infrastructure for the most pressing public sector issues in Latin America.
LACChain is a global alliance integrated by different actors in the blockchain environment and led by the innovation laboratory of the Inter-American Development Bank Group (IDB LAB) for the development of the blockchain ecosystem in Latin America and the Caribbean.
Block.one is a software firm specializing in high-performance blockchain technologies. A pioneer in distributed ledger innovation, Block.one develops the EOSIO open-source software, which is widely regarded as the market leader for blockchain power and scalability.
As the developer of EOSIO, Block.one becomes a strategic partner in providing technical expertise, supported by existing infrastructure providers EOS Costa Rica and EOS Argentina, to empower local entrepreneurs and governments using EOSIO to improve economies, supply chains and infrastructure.
Since its foundation, the LACChain Global Alliance has signed multiple partnerships and collaborations. Today, the ecosystem has 40 partners in 12 countries in the Latin American and Caribbean region, a figure that grows week by week. LACChain has currently two blockchain networks that apply the LACChain framework: the LACChain Consensys Quorum Network (a.k.a Besu) and the LACChain EOSIO Network, which add up to a total of 78 nodes that have generated more than 21 million blocks and that are being used in 24 projects in different phases of deployment, receiving an average of 12,000 transactions per day during January 2021.
Equipped with cutting-edge technology and the support from influential local institutions, the LACChain Ecosystem helps to deploy solutions for the most pressing public sector issues: economic instability, 50-70% population is still unbanked, lack of formal ID for migrants as well as corruption and lack of accountability across industrial sectors. Projects in development include:
DeFi and Tokenized Fiat Money
ioCash and Peru Compras facilitate business transactions; A cross-border payment initiative involving Inter-American Development Bank (IDB), uses stablecoins to deploy emergency funds to any part of Latin America, in an instant, free and locally redeemable fashion.
Blockcerts Caribe, a real-time digital academic diploma verification system to be implemented in Jamaica, Barbados, Trinidad and Tobago, and 13 other countries in the Caribbean. The association is actively building infrastructure for the establishment of a digital identity system based on Self-Sovereign Identity (SSI).
CADENA is a blockchain solution built to improve the cross-border exchange of data between customs administrations across Chile, Colombia, Costa Rica, México, Perú, Bolivia, Guatemala and Ecuador.
“LACChain is a techno-legal framework enabling enterprise use of blockchain with transformative impact, not a mere new protocol,” said the leader of LACChain and IDB Lab Principal Specialist Alejandro Pardo. “We care about performance, usability, and building the technology infrastructure to support further development of applications with impact on inclusion by our communities.”
“Our goal at Block.one is to change how the world works so that it is more transparent, trustworthy, and efficient, which is why we’re excited to join the LACChain alliance,” said Bart Wyatt, VP of Blockchain Engineering at Block.one. “In this technical advisory role, we look forward to helping LACChain drive adoption and awareness of the EOSIO platform through educational programs, deeper technical collaboration and community engagement initiatives.”
“We’ve been providing robust, reliable infrastructure for blockchains for the last 6 years from Latin America, and we’re excited to see how we can accelerate blockchain adoption when we combine our specialized regional expertise to Block.one’s innovation and the broad reach of the IDB,” said Edgar Fernandez, cofounder of EOS Costa Rica.