It was recently learned that BID Lab (belonging to the Inter-American Development Bank), includes the EOSIO technology in LACChain, which is its public and licensed blockchain for Latin America and the Caribbean. We see that a relationship exists between LACChain, LatamLink and EOSIO. Next, we will see in detail how they work together.
LACChain is a regional program of the IDB Lab that was born with the purpose of accompanying and accelerating the development of the blockchain ecosystem, seeking to maximize the social impact that technology has the potential to offer. This is what they state in their Medium channel, in a detailed post signed by Alejandro Pardo Vegezzi and Marcos Allende López.
Costa Rica joins the LACChain alliance to promote blockchain development
On the other hand, LatamLink is a voluntary regional alliance led by Latin American technology companies. This, as explained on LatamLink’s website, where they also detailed that they are developing an EOSIO-based testnet for the LACChain network in order to highlight the benefits of this technology.
According to the same site, LatamLink uses a public licensed version of EOSIO technology for developers and organizations to test their decentralized applications and infrastructure.
However, according to information published by Latamlink, EOSIO is a blockchain technology launched in 2018 by block.one, a company that offers blockchain solutions. With this in mind, it is important to clarify that LatamLink is led by EOS Argentina, EOS Costa Rica and EOS Venezuela.
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Objectives of LACChain
Following the official information from LACChain, we can see that the program has the following objectives, detailed in its Medium channel:
* The establishment of open and inclusive national consortia in Latin America and the Caribbean made up of public sector, private sector and academic actors for the development and adoption of blockchain technology and its applications.
* The development, promotion and adoption of standards that allow for the interoperability of networks and the scalability of the technology and its applications, enabling blockchain to evolve into the Internet of value (here the emphasis is on the importance of a network that is immutable, decentralized and with verified information in which, thanks to the enabling of digital identity and tokenized money, it is possible to access a new concept of digitalization).
* The development and maintenance of an infrastructure of free, interoperable and regulated blockchain networks, on which to develop applications with a high social impact
Taking into account these three points, BID Lab formed alliances with many entities working with blockchain technology.
According to LACChain, it is possible to work on social impact applications on blockchain technology. Some of the examples they consider are: digital identity for poor and vulnerable populations, remittances and financial inclusion, certifications of professional skills, agricultural traceability, access of small producers to markets, combating harassment and what they call „gender violence“, conditional transfers based on programmable electronic money, access to energy, etc.
From LACChain they present themselves as „agnostic“ in terms of technologies, their objective and purpose being to work in a cooperative and non-profit framework with allies, members and stakeholders to establish standards. „These standards will allow and facilitate the development of applications and the deployment of multidisciplinary and scalable use cases with great potential in terms of social impact,“ they said.