Buenos Aires To Allow Crypto Payments For Specific Taxes And Government Services

2022-04-27 01:10:28
Buenos Aires Jums The Crypto Bandwagon

Following in the footsteps of the Brazilian metropolis Rio de Janeiro, the city of Buenos Aires, the Argentinian capital, wants to allow crypto payments for specific taxes within the municipality.

The news broke out during a call on Zoom, where Horacio Rodriguez Larreta, the man in charge of the government in Bueno Aires, revealed the idea to allow crypto payments for taxes is the perfect opportunity to modernize and digitalize both government services, and legal documents of the citizens.

According to Horacio Rodrigues Larreta, the idea of the “Buenos Aires+” crypto initiative, as it is called, is to “simplify and streamline the link with citizens and the city”, which is absolutely imperative being that the end goal of this project is to cover up to 70% of government formalities in the first year alone.

Speaking on the matter, the secretary of Innovation and Digital Transformation, Diego Fernández,  believe that Buenos Aires implementing crypto for tax payments can only be a positive, especially when it comes to the transparency of the transaction. According to the secretary, this is exactly what might inspire the citizens to truly engage with this project.

I believe that blockchain technology will give the government the possibility to make all its acts more transparent and encourage the participation of citizens in a deeper way.Diego Fernández | Secretary of Innovation and Digital Transformation

Technology & Platform

Furthermore, the government in Buenos Aires has several key stages in which they plan to unfold this new crypto project, with one of the most important being the release of a fully digital ID procedure that would potentially process both payments and document requests, addressed at the city.

In addition, the new system is built as an interoperable platform, which means that all government-related organizations and companies can exchange information with each other, i.e. cooperate. And this service is not limited to government organizations alone, being that even public organizations can participate in this exchange.

Fernández concludes that this will grant the people better “governance over their information”, being that they “are developing a platform so that they can know who is requesting their data”.

This move by the government in Buenos Aires in Argentina to allow crypto payments for certain taxes is very similar to the plans of the Brazilian city Rio de Janeiro, where the government also revealed in late March its own plans to allow crypto payments for the municipality tax, IPTU.

Back then, the Mayor of Rio De Janeiro, Eduardo Paes, also stated that allowing for crypto payments for the municipal tax is the perfect way to launch the city into a digital future, which is yet another big similarity with the crypto project that is currently brewing in Argentina.

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