Argentina has been setting the pace in Latin America in digital asset adoption for years and ranks among the top 20 markets globally. The country’s capital, Buenos Aires, is looking beyond digital assets and embracing blockchain, recently rolling out a decentralized digital identity for more than 3.5 million residents.
This week, the city of Buenos Aires announced the integration of a decentralized identity (DID) solution into miBA, the government application that allows residents to manage their data, perform transactions, access personal documents and verify their identity. According to the announcement, the integration took place earlier this month, issuing DIDs to miBA’s 3.6 million users.
Decentralized identities have become increasingly popular as more people seek greater control over their digital presence. However, until now, they have been the preserve of the private sector, where industry leaders like nChain have developed innovative DID products that are secure, private, and verifiable.
Some cities have experimented with blockchain identifiers; in Switzerland, Zug first issued DIDs in 2017, while in the United States, the Texas city of Austin uses DIDs to help homeless people access government and health services. However, these initiatives were limited to a few thousand people in a controlled and closed ecosystem.
Buenos Aires thinks big. The new system, called QuarkID, will be accessible to millions of people and will cover more than 60 documents, from birth certificates and driving licenses to tax documents, on the miBA app. For the end user, nothing will change in the way they access the application. However, blockchain will power the app and provide residents with greater control over their identity.
According to ZKSync, the company whose technology powers the new solution, residents can now share and verify their identity and other credentials peer-to-peer without involving any third parties, including the government. It also allows users to share their identity with other digital applications, from banks to social networks, without involving the government.
Jorge Macri, head of government of the city of Buenos Aires, described the integration as “an unprecedented step” for the capital: “The adoption of new technologies that simplify citizens’ processes and grant them full control over their information is a fundamental step to continue offering more secure and transparent digital solutions.
One of the key features of Buenos Aires DIDs is the use of zero-knowledge evidence. These allow users to reveal only the information they need while keeping everything else private. For example, users can prove their age when purchasing an age-restricted product without revealing their name or address.
“By giving residents control over their identity, we not only improve privacy and security, but we also lay the foundation for a future where ownership of personal data is a fundamental right, protected by advanced cryptographic proofs based on zero knowledge. » commented Diego Fernández, city secretary for innovation and digital transformation.
Indonesia extends trade registration deadlines
In Indonesia, the country’s commodities watchdog has extended the digital asset trading license deadline until next month. The Commodity Futures Trading Regulatory Agency, known locally as Bappebti, has announced that the deadline for exchanges to register as traders of physical crypto assets is now November 30 .
The announcement follows the release of Regulation No. 9 of 2024, which requires exchanges to implement Know Your Transaction (KYT) protocols and incorporate the travel rule for non-retail customers. It also requires exchanges to establish agreements with the Ministry of the Interior on data verification processes.
Bappebti has overseen the exchanges since 2019, when it introduced the first framework for the sector. However, last year it launched the world’s first national exchange for digital assets, known as the Commodity Future Exchange (CFX). In its most recent announcement, it reminded exchanges that receive licenses that they must register with the exchange within seven days of receiving the license, or risk revocation.
So far, only six exchanges have received licenses under the new regime. In total, 35 exchanges applied for the license; All unlicensed applicants are currently categorized as “prospective crypto exchanges” and can serve customers while awaiting licensing.
Indonesia is one of the largest digital asset markets in the world, ranking seventh in terms of adoption, according to Chainalysis. Bappebti revealed that Indonesians have transacted $27.3 billion since the beginning of the year, a significant year-on-year increase. Official data shows that there were 20 million digital asset traders in the country as of May, significantly higher than the 12 million stock traders.
Watch: Securing Personal Information with Blockchain Identity System
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