LACNIC and RedCLARA Launch LACNet in Collaboration with IDB to Offer the First Global, Production-Grade, Enterprise Blockchain Network

14 February 2022

The alliance between RedCLARA and LACNIC and the collaboration of IDB Lab has resulted in, the first global, production grade, public-permissioned, enterprise blockchain network. This network was incepted within the framework of the LACChain regional program and builds on their protocols and experiences. It is managed by LACNet, a neutral non-profit international association established in Uruguay for this purpose. 

LACNet will allow organizations, governments, and companies to add their projects to a network that guarantees the service level this type of entities require. This network is unique in that it is simultaneously open, governed, in keeping with regulations, eco-friendly, and with a focus on inclusion. 

Thus, LACNet provides the region with a secure digital highway for the deployment of solutions based on blockchain technology that has the potential to reach millions of people.

All of this considering that blockchain is one of the emerging technologies with the greatest potential for market transformation and impact on inclusion, given its ability to guarantee vulnerable populations the ownership of their data; offer them access to social, economic and financial services; and provide them with a digital identity.

In this sense, LACNIC, RedCLARA, and IDB Lab have joined forces to continue to promote the development of an inclusive, efficient, and secure blockchain ecosystem. The goal of this alliance is to expand the benefits of this technology so that they can reach every population, organization, company, academic, and research community in the region.

“LACNIC is excited to join this project because of its potential to contribute to the construction of technological capabilities and infrastructure across the region,” noted LACNIC CEO Oscar Robles.

In turn, IDB Lab CEO Irene Arias pointed out that “This is good news for Latin America and the Caribbean, as LACNet provides the first Global Blockchain Network associated with Internet governance. Given its sustainable operation, this network will allow us to enhance what is already being done to benefit millions more people.”

Likewise, RedCLARA Executive Director Luis Eliécer Cadenas stressed that “This project is of great importance to RedCLARA and its national research and education networks because of its impact on the services required by the education and science sector and which are based on this technology.”

To conclude, Matías Bendersky, IDB Representative in Uruguay, a country that is seeking to position itself as a digital hub for the region, observed that “This represents a great opportunity to promote the internationalization of companies and attract investments from the technology sector.”

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