Presidential candidate and Economy Minister Sergio Massa has proposed developing a system that would allow citizens to control and monitor state finances using blockchain technology in Argentina. At a recent presidential campaign rally, he declared that Argentinians should be able to “check state accounts with their mobile phones,” interacting with the national budget.
Sergio Massa discusses Blockchain monitoring for government accounts in Argentina
Sergio Massa, a presidential candidate and Minister of Economy of Argentina, proposed implementing a blockchain-based system to monitor state accounts and the implementation of the national budget. Massa stated that this system would benefit citizens and the country, increasing transparency of expenditures and revenues by making this data available to the population.
During a meeting, Massa stated:
We live in the age of communication. I want every Argentinian to be able to check government accounts online from their mobile phone. So each of the Argentinians has their blockchain when interacting with the state.
Moreover, Massa emphasized that this proposal was framed in the construction of a new phase of national government, in which “ethics, integrity, fight against corruption, control of expenditure and transparency” would be part of the work agenda of his coming government.
Transparency in budget expenditures
Massa described a mechanism to establish contracts between the Argentine state and companies that carry out state budget work using this blockchain system.
He explained:
In this plan that the State must have, in addition to a blind application mechanism between contracting party and contracting party, a certain payment date must be included in the bidding process, in the tender process and in the award process.
He praised blockchain technology, concluding that it provides traceability and certainty to state contracts and serves to control government spending.
Massa, who will face libertarian Javier Milei in the runoff election on November 19, has also proposed the creation of a national digital currency that would be part of a plan to move the economy into formal channels, combined with a tax cut scheme.
Another of his plans includes using natural gas from Vaca Muerta, one of the country’s largest oil fields, to mine bitcoin. In a recent interview, he stated that he supported the idea because of the “reduction of CO2 emissions” from the activity.
What do you think of Sergio Massa’s proposal to develop a blockchain-based system for monitoring budget expenditure in Argentina? Tell us in the comments below.