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The Argentine Construction Chamber joins the Federal Blockchain

August 18, 2020

The Argentine construction chamber announced on August 10, 2020 via its portal, its integration into Blockchain Federal Argentina, an open and participatory multiservice platform for the integration of services and applications in blockchain.

Blockchain Federal Argentina is an initiative in which different parties represent the public sector, academia and the private sector. to create an infrastructure that will run the first national platform for public use based on blockchain technology, innovative validation technology and various types of transactions as stated on their website, the construction industry.

The statement also explains that due to the characteristics of this technology, as well as the characteristics of interoperability and public and collaborative use that this platform was built with, it can run applications and systems that improve the processes of public sector organizations. and privately across the country.

The Argentine Construction Chamber joins the Federal BlockchainThe Argentine Construction Chamber joins the Federal Blockchain

The platform, designed solely to operate without associated cryptocurrencies, acts as an open space to support the development and contributions of all areas of society. This multi-service platform uses a public, secure, and immutable transaction protocol that enables vertical applications to be used to perform contracts, transactions, and a host of other operations in an environment that ensures efficiency, transparency, and security.

Know the BFA

Blockchain Federal Argentina (BFA) is the first federal multi-service platform based on blockchain technology.

This platform was designed in a collaborative workspace by the Argentine NIC, the Argentine Internet Chamber – CABASE, and the Association of University Interconnection Networks (ARIU) to reproduce this pattern as a backbone that suggests take advantage of the properties of distribution registers and develop an open one and collaborative ecosystem to integrate services and applications from a wide variety of sectors.

BFA opts for a strategy in which the participation of the entire community from the organizational technology to the use of the infrastructure is of decisive importance. A governance model is maintained that ensures that all sectors are represented in decision-making.

Blockchain Federal Argentina is a public platform on which individuals, organizations, institutions or companies from all industries who are interested in the provision of applications and services can use all the functions offered.

How does it work

The BFA was specially developed not to have any associated cryptocurrency. Opt for a model that enables low costs in both processing and energy consumption and is based on Ethereum technology, one of the most widely used public blockchains internationally.

Blockchain Federal Argentina: Since no cryptocurrency is assigned and the network is structured according to the Proof of Authority model, transactions in BFA are free. The “fuel” or gas (ether) required to carry it out is provided by the BFA at no associated cost and regularly sent through a room operated by the organization called the Distillery.

The platform software is based on an open and robust implementation. All changes and developments made are equally open so that they can be publicly examined by any interested party, even if they are not part of the consortium.

Blockchain for the construction industry

There are currently many sectors of the economy that have embraced the potential uses of this technology and the construction industry sector is not escaping it. Within this sector, blockchain technology is a tool that would help automate contractual processes, speed up project execution, save money and, in short, ensure the efficiency of the sector.

The blockchain can support numerous possibilities, e.g. For example: increasing transparency, improving efficiency, optimizing supply chain management, managing IoT-connected security devices and improving the adoption of designs. Generating greater security in the use of information enables processes that may be interrupted and can be eliminated generate no value for the industry, and the development of a control in BIM for the design of information security in the sense of shared data and unified design and construction processes with legal payment processes and intelligent contracting in a more secure way to facilitate the development of negotiations and B2B alliances accelerate.

These are some of the points that can help identify the blockchain technology message that powers every industry, especially in information security management, and that makes it clear that there are no limits to its uses. of this technology in the construction sector as it is a development that, when used appropriately, will allow the creation of a digital ecosystem that will inspire confidence and facilitate the use and distribution of information under the cloud work platform

Argentina is one of the Latin American countries promoting the development of blockchain technology in the region, taking into account its different uses and applications. That is why more and more branches of the economy in this country are choosing to use this decentralized technology.

The alliance from which BFA emerged is a natural progression of joint articulation between actors who have a long history of collaborationIn various areas of governance, the development and promotion of the Internet in Argentina, the open and free platform that is supposed to integrate services and applications on the basis of the blockchain appears in this context: a space, transparent, reliable and without intermediaries who allow it Enable construction industry actors to focus their talents on solving problems and getting better results in projects with a fully verifiable platform that not only enables process optimization but also acts as an empowerment tool for the whole of society.

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