Uruguay, the South American country that stands third in the software exports field in the region, is becoming a promising hub for blockchain projects.
Earlier, in the ongoing month, the country had hosted the 2nd edition of Blockchain Summit Uy. The event turned out to be small and significant with approximately 400 eminent guests in attendance, indicating the growing blockchain ecosystem in the nation. The event was attended by regulators, government officials, leading members of the nation’s crypto ecosystem, as well as the Central Bank of Uruguay’s President. Reports also suggested that the nation is witnessing as many as three projects of blockchain taking place.
The emergence of blockchain projects in Uruguay seems to be due to the nation’s stable and forward-looking leadership. In addition, Uruguay has a strong IT sector and esteem for financial leniency. Its openness to foreign investment is also another factor that drives in entrepreneurs from across the globe.
The conference was organized by a software development company BlockBear, and its CEO, Ignacio Varese, stated that the event aimed at promoting both digital currencies and blockchains and being the community’s meeting point. Continuing further, Varese was quoted as saying,
“We also call on the government and the Central Bank of Uruguay to provide their position regarding this revolutionary technology and thus be able to discuss favorable regulation.”
Apart from this, the nation is all set to host LABITConf in Punta del Este and Montevideo in December 2019. For all those wondering, LABITConf is the most important and established Bitcoin and blockchain conference in the region. This upcoming conference is anticipated to attract significant blockchain tech personalities from across the globe and create additional awareness about blockchain technology in the country.
Recently, the ORT University of Uruguay and blockchain entity Aeternity came together to further blockchain education in Uruguay. Interestingly, this collaboration will facilitate the development of dApps on the blockchain of Aeternity while also boosting blockchain awareness. If that was not all, blockchain training, workshops, event organization, and investigation, will be carried out by the CIE ORT Aeternity Centre for Innovation in Blockchain.
Where it All Began
The South American nation had begun financing blockchain projects in July last year via both private and public investments. In fact, the ANII and ThalesLab continue to seek innovative and interesting start-ups in the blockchain space to support for promoting the technology in the country. The first entity to have been chosen in such a process was PowerLedgers that provides governments and businesses with blockchain as a service.