What is the relationship between LACChain, LatamLink and EOSIO?

It has recently been learned that IDB Lab (part of the Inter-American Development Bank) includes EOSIO technology in LACChain, the public and licensed blockchain for Latin America and the Caribbean. We see that there is a relationship between LACChain, LatamLink and EOSIO in this way. Next we’ll see in detail how they work together.

LACChain is a regional program of the IDB Lab, which was founded with the aim of accompanying and accelerating the development of the blockchain ecosystemto maximize the social impact technology can offer. This is stated on their medium channel in a detailed article, which has the signatures of Alejandro Pardo Vegezzi and Marcos Allende López.

On the other hand, LatamLink is a voluntary regional alliance led by Latin American technology companies. As explained on the LatamLink website, it was explained in detail that they are developing an EOSIO-based test network for the LACChain network to highlight the advantages of this technology.

What is the relationship between LACChain, LatamLink and EOSIO?
What is the relationship between LACChain, LatamLink and EOSIO?

According to the same website, LatamLink uses a publicly licensed version of EOSIO technology This allows developers and organizations to test their decentralized applications and infrastructures.

Well, according to the information published by Latamlink, EOSIO is a blockchain technology that was introduced in 2018 by block.one, a company that offers blockchain solutions. With this in mind, it is important to clarify that LatamLink is managed by EOS Argentina, EOS Costa Rica and EOS Venezuela.

LACChain’s goals

According to the official information from LACChain, we can see that the program has the following objectives, which are listed on its medium channel:

* Establish open and inclusive national consortia in Latin America and the Caribbean consisting of actors from the public sector, the private sector and the academy for the development and introduction of blockchain technology and its applications.

* Development, promotion and adoption of standards This enables the interoperability of networks and the scalability of technology and its applications, so that blockchain can develop into the Internet of Value (here, the importance of a network that is immutable, decentralized and provided with verified information is emphasized, in which thanks to digital identity and tokenized money, it is possible to access a new concept of digitization.

* Development and maintenance of a free, interoperable and regulated blockchain network infrastructure; to develop applications with high social impact.

Taking these three points into account, the IDB Lab has formed alliances with many companies that work with blockchain technology.

Social influence

According to LACChain, you can work on social impact applications using blockchain technology. Some of the examples they are considering are: digital identity for poor and vulnerable groups, remittances and financial inclusion, certificates of professional skills, traceability of agriculture, small producers’ access to markets, combating harassment and so-called “gender-based violence”, Transfers due to programmable electronic money, access to energy, etc.

Technological “agnosticism”

From LACChain they present themselves as “agnostic” in terms of technology. Their goal and purpose is to work with allies, members and stakeholders in a collaborative and non-profit setting to set standards. “These standards will later enable and facilitate the development of applications and the provision of multidisciplinary and scalable use cases with great potential for social impact,” they said.

LatamLink and its basics

Meanwhile, LatamLink have highlighted three basics that they believe can be useful to users. These basics are:

1. Here you can explore EOSIO: They find that EOSIO is an open source blockchain technology that enables flexibility, scalability and cost efficiency. LatamLink believes that these are ideal factors in developing business and social impact solutions.

2. You are part of the LACChain initiative. As already mentioned, this is an initiative of the IDB Lab.

3. You claim to offer a comprehensive solution: LatamLink uses a publicly licensed version of EOSIO technology for Latin America. This includes functions such as a local development and test environment, a monitoring service, adaptability to API endpoints, wallets and other tools.

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