Chilean lawmakers move blockchain resolution in Parliament

SANTIAGO – Two Chilean deputies yesterday presented a resolution to the lower house of the country’s parliament (Camara de Diputados) to adopt blockchain-based security and energy solutions across the South American country.

The proposed blockchain resolution project was first registered in late August.

In the proposal, Miguel Angel Calisto and Giorgio Jackson, along with eight other MPs, appeal to President Sebastian Pinera, urging him to implement blockchain in all public areas of the country.

Introducing the resolution to parliament, Jackson cited a recent report from the Chilean Economic Prosecution office, which stated that the maintenance of notaries had become too expensive for the government. Jackson argued that storing said data in a decentralized system would significantly help reduce those costs, local news website Fortin Mapocho reported.

MP Calisto also stressed that blockchain technology could guarantee the accuracy of all information kept.

Chile is one of the countries in Latin America that has made riskier and faster bets for the incorporation of blockchain solutions in government services; measures that make it the continental vanguard of the adoption of technology.

Earlier in May the president of the Chilean Central Bank stated that he was considering introducing cryptocurrency regulation in the country. Mario Marcel Cullell argued increased regulation could help the state to “monitor risks,” notably of terrorist financing and money laundering.

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In 2017 the Chilean Stock Exchange announced that it would implement blockchain solutions in the stock market in the hands of IBM; historical event that made Chile the first country in Latin America to make an alliance of this kind.

Likewise, the Chilean Trade Authority has begun to discuss a possible application of blockchain for a voting system in the sector of shareholders’ meetings. As if that were not enough, Chile also recently starred in its first blockchain hackathon.

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Neighboring South American countries are also testing blockchain for public administration. In July, Argentina announced the creation of a federal blockchain system back, while earlier this year, the Brazilian government stated it was planning move its popular public petitions onto the Ethereum blockchain.

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