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Argentine firms launch Blockchain-as-a-Service after projects with central bank, gas network

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On 30 September 2020, Argentinian blockchain firms IOV Labs and Grupo Sabra announced their partnership in creating an enterprise blockchain joint venture Extrimian. Together the two firms have worked on projects with the Argentinian central bank and a major gas network operator.

Extrimian offers a new cloud-based Blockchain-as-a-Service (BaaS) platform which targets government, enterprises and startups. The platform, called ‘RSK Enterprise Cloud,’ allows users to build decentralized apps and quickly implement consortium networks. Extrimian claims this will save time and money, allowing users to focus more on business.

Other RSK Enterprise Cloud features include the ability to integrate with IT platforms and other networks. The BaaS service works across multiple cloud environments and is a fully managed offering.

IOV Labs, a new member of the global blockchain consortium Hyperledger, develops solutions based on the smart contract platform RSK, which is secured by the Bitcoin network. 

CEO and Co-Founder of IOV Labs, Diego Gutiérrez Zaldívar, believes “Extrimian gives businesses exposure to the benefits of blockchain technology without the complexity.” The joint venture is headed by Guillermo Villanueva, the co-founder of Grupo Sabra, “RSK Enterprise Cloud is a platform created by developers for developers that comes as a result of more than six years implementing blockchain projects within our enterprise and government customers,” said the Extrimian CEO. 

Earlier this year, the two firms jointly completed a blockchain proof-of-concept with Argentina’s central bank and a group that includes Banco Santander, the Bank of the Province of Córdoba, and stock exchange BYMA. The project deals with customer claims regarding rejected direct debits. When a customer disputes a payment, banks require inter-communication. Blockchain technology is used for the messaging system. 

Shortly before this, IOV Labs and Grupo Sabra launched Gasnet, a blockchain-based network for Argentina’s natural gas distribution system. Initially created for gas distribution giant Gasnor, which services almost two million Argentinians, gas regulator Enargas ended up supporting Gasnet’s nationwide deployment. There are plans to eventually bring all nine gas distribution companies in Argentina onto the blockchain platform. The network is built on the RSK Enterprise blockchain, recording all transactions for certification of new gas installations and reconnection services. Gasnet connects customers, gas installers, big gas distributors, and Enargas using a single platform.