Argentina’s San Luis province has launched a blockchain-based dollar peg A bill to allow the issuance of stablecoins. The bill also authorizes the issuance of local art assets as his NFTs (Non-Fungible Tokens), allowing blockchain to be used to promote social development, economic, cultural and financial inclusion. I am aiming.
San Luis Approves Blockchain Development Bill
Argentina’s San Luis has taken the first steps to include blockchain-based technology as part of its push to go digital. I was. State legislators recentlyapproved a bill called “Financial Innovations for Investment and Socio-Economic Development,” designated by number VIII-1085-2022. This includes creating value and improving audit processes.
As part of this legislation, San Luis is considering issuing its own dollar-pegged stablecoin. Called the “San Luis Savings Digital Asset,” the token will be available to all citizens of the state and will be 100% collateralized by the state’s liquid financial assets. As the ruleset for this law has not yet been written, it is not yet known whether this digital asset will be used as currency or will act as a bond of sorts.
It also stipulates that up to 2% of the annual budget can be issued. The law does not specify the chain on which these assets are issued, but establishes that they can be transferred between users via different wallet accounts.
Art NFTs
The Act also includes a chapter on the issuance of artistic digital assets. It establishes the publication of “San Luis Art Digital Assets” as art collections created by local artists in the state with the aim of providing a platform for digitizing artwork. These works will be issued as NFTs (Non-Fungible Tokens), ensuring that each one is “unique and grants ownership and authenticity to the artist or digital asset owner.”
State also builds an internal market that allows creators to commercialize their work, increasing visibility as part of the San Her Luis community of artists.
Argentina recently moved to include blockchain technology in its development plans with the issuance of a national blockchain framework announced on December 7. The document, which also creates the National Blockchain Commission, describes her two areas where blockchain technology is applied. May be useful: audit and identification. However, there is no mention of currency issuance.
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