Argentine government is pondering over the thought of investing in Blockchain technology. The government is going to invest in blockchain startups which are financially backed by Binance Labs, which is a crypto exchange. Argentina’s governmental body which is taking care of the Production and Labour issues, has announced that it will be investing funds worth $50,000 into every blockchain project in the country which is funded by Binance Labs (through the second season of its incubator program), and LatamEX Founders Lab.
Argentina plans to invest in around ten such startups each year for four years to come. The government will do this with the help of Founder Labs. Among many countries in the world which are destinations for blockchain related investment, Argentina is the one. And Argentina is using this potential.
Binance recently chose Argentina’s capital Buenos Aires for the second lap of its incubator program. After a few days of this announcement, Argentina decided to sign the co-investment contract.
On this decision of Argentina, the head of Binance Labs Ella Zhang said that the exchange is looking forward to this new journey. The exchange is ready to support the project, business owners and developers and would provide them with all the necessary advice and guidance.
The exchange would help them in finding the right blockchain solution which will help in solving local problems. Binance is an international crypto exchange which allows over hundred cryptos to get traded on its platform.
It is not recent news that the market is in a bearish trend. But still, crypto lovers and businesses are not done with this new -age technology. Countries are accepting this technology, and the market is spreading. Blockchain and crypto ventures in Argentina are extending and growing too. Businesses and people are looking for something which is more open, decentralized and reliable. People want easier ways of doing things and security is of importance to all.
The crypto sector is growing at high speed. This sector is providing many jobs in the domestic economy of Argentina. The new age technology would not only ad to the employment but would also help in the development of the country, and usher it in a new world. Argentina is suffering from currency crises, and the government has to develop a strategy that would make it a better economy.