Chilean Lawmakers Present Blockchain Adoption Resolution To Parliament

Blockchain, News | October 8, 2018 By:

Two Chilean lawmakers have presented a document to the lower house of Chile’s parliament last week for a blockchain resolution project.

Parliament members, Miguel Angel Calisto and Giorgio Jackson, have proposed to implement blockchain technology in different public areas and offices of the country to enhance the quality of cybersecurity and reduce bureaucratic processes. They also recommended further research into blockchain to identify more areas where it can be applied.

Calisto said that blockchain could transparently and unalterably track the management and work carried out by the country’s public agencies, guaranteeing the accuracy of all information kept.

“It is the moment that these new technologies that are at the forefront of innovation, are seen as a real option,” Calisto said. “Chile must look to the future and ensure the good of all its citizens.”

Jackson said that blockchain technology has a very transformative potential and has the ability to decentralize information. Jackson pointed out notaries as a prime example of a field which could benefit from blockchain implementation. He argued that storing sensitive information in a decentralized system would significantly help reduce costs.

In May of this year, Central Bank of Chile governor Mario Marcel said that the bank was planning to a legislative apparatus designed to regulate and monitor activities pertaining to the country’s cryptocurrency sector. At the time, the central bank governor argued that increased regulation could help the government to “monitor risks,” notably of terrorist financing and money laundering.