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The Chilean General Treasury of the Republic (TGR), which controls the collection of taxes in the country, has launched a blockchain platform to process payments, according to a press release published on December 19.
TGR – an employee institution under the Ministry of Finance – reportedly first meeting with the Digital Government Division of the General Secretariat of the Ministry of Presidency of Chile to discuss the pilot project in October 2018. At that time, officials announced that they would create a blockchain platform to connect citizens, financial intermediaries and suppliers.
According to the December declaration, the pilot for the platform was launched. The platform stores transactions that are processed by Chilean public institutions – such as tax payments or patent taxes – on blockchain. Before registering the transaction, all the nodes participating in the process are obliged to approve it.
TGR reports that it hopes that a common database used by governments, institutions and banks will help eliminate discrepancies in data, reduce time spent on payments, and reduce operational costs while providing the necessary level of security for personal data.
The Chilean government is exploring the blockchain in several areas, including the energy and finance sectors. In April, Chile's national energy regulation organization announced the launch of a project based on the Ethereum blockchain (ETH) to record national energy sector data.
The Chilean Parliament is now examining a bill on the acquisition of blockchain that was presented by the local parliamentarians in October. The proposal suggests conducting studies on the advantages of safety and energy solutions based on blockchain.
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