Last week saw the launch of LACNet, a non-profit that governs and orchestrates the LACChain blockchain for the Latin American and Caribbean region. Its goals are similar to other regional blockchain networks such as Alastria in Spain, the European Commission’s European Blockchain Services Infrastructure (EBSI), and China’s Blockchain-based Service Network (BSN). It offers a low cost, low risk way for organizations to participate in blockchain networks.
LACChain is a public permissioned blockchain network where any user can interact with the network. However, those who write to the network by operating nodes or applications have to subscribe, sign a set of terms, and go through a vetting process. The network was founded by the Inter-American Development Bank (IDB) Lab and is already in use. Now there is an independent non-profit LACNet, that looks after the network.
The organizations behind LACNet are LACNIC, which is responsible for the region’s internet number system, and RedCLARA, which connects the region’s academic networks. And, of course, it’s a collaboration with the IDB Lab.
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