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06/06/2024

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Cardano & Argentina: A Powerful Blockchain Alliance

You are here: Home / News / Altcoin News / Cardano & Argentina: A Powerful Blockchain Alliance Cardano Foundation has inked a major new deal with the state of Entre Ríos in Argentina to further the goal...

Cardano & Argentina: A Powerful Blockchain Alliance

You are here: Home / News / Altcoin News / Cardano & Argentina: A Powerful Blockchain Alliance

Cardano

Cardano Foundation has inked a major new deal with the state of Entre Ríos in Argentina to further the goal of blockchain adoption. Signed in a public ceremony, the partnership was jointly sealed between Rogelio Frigerio, the Minister of Interior, and Rafael Fraga, a Business Development Specialist from the Cardano Foundation. The collaboration underscored Cardano’s commitment to fostering innovation and expanding its footprint in Latin America.

@IOHK_Charles, it’s clear that deep relationships between Argentina and the community are developing. We are delighted to announce a new partnership in Argentina! Following a public signing between @frigeriorogelio and @rafaelfraga_f, the CardanoFoundation is collaborating with Entre Ríos state to further blockchain adoption.

Entre Ríos, a state known for its rapid agricultural development and economic expansion stands to benefit from this partnership. Earlier, Argentinian president Javier Milei retweeted a post from the Cardano founder Charles Hoskinson. There are reports that Hoskinson met Milei to discuss the blockchain’s expansion amid crypto regulation talks.

Argentina is also learning from El Salvador’s Bitcoin integration. Not long ago, the country’s regulators led discussions with their counterparts in El Salvador regarding Bitcoin adoption. According to an official statement, senior Argentinian officials met with the head of El Salvador’s National Digital Assets Commission [CNAD]. The discussions revolved around potential cooperation agreements related to digital assets, marking a pivotal step towards deeper engagement with cryptocurrency regulation.

Cardano: Real-World Impact Over Hype

Before that, Argentina’s president submitted a groundbreaking bill to waive tax obligations on cryptocurrencies to Congress. The proposed legislation, named the “Law of Bases and Starting Points for the Freedom of Argentines,” aims not only to eliminate taxes on digital assets Escalating inflation rates, soaring to 147% in 2023, coupled with President Milei’s pro-Bitcoin stance, are driving factors behind Argentina’s increasing affinity for digital currencies.

Cardano

On the other hand, Cardano has faced criticism due to its stagnant price performance and the lack of visibility with no games, drops, or meme coins. Hoskinson reiterated that the smart contract platform is focusing on real-world applications rather than short-lived hype. The recent partnership with Entre Ríos, Argentina that aims to drive blockchain adoption in public administration, exemplifies this approach.

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