Chilean treasury will use blockchain to register payments

The government entity aims to promote transparency in the payment registration process

The General Treasury of the Republic of Chile (TGR) confirmed the launch of a project that will store the data registry on a blockchain network with the purpose of automating and modernizing its operations.

The institution, that had the support of the General Secretariat of the Presidency of Chile, intends to automate the process and eliminate the differences between the balances of taxpayers.

The project, called TGR Blockchain, arises as a solution in the midst of a time when payments for tax collection do not always correspond to the records of both organizations.

Therefore, using a blockchain network, all transactions will be registered unalterably and in real time in a distributed network for all involved.

For her part, Ximena Hernández, general treasurer of Chile, said: “The digitalization of these processes is a fundamental challenge for the General Treasury of the Republic in the context of innovation and modernization that we are promoting.”

L.Sáenz

Source: Coincrispy

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