Blockchain first for Argentina local lottery in Río Negro

Updated Apr 27, 2020 | Published Mar 6, 2020
[1 min read]
Argentina’s Río Negro Lottery has become the first instance of a lottery adopting blockchain technology in Latin America.
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In an exclusive interview with SBCNoticias.com, Luis Ayestarán, the president of the Río Negro Lottery, said that by relying on blockchain technology, the frontiers between physical and online gaming are thinning.

While the solution has stirred quite a bit of excitement, the deployment is still in an initial stage, with a full-scale release planned for later this year.

One of the highlights of the technology, Ayestarán explained, is the fact that it will eliminate the so-called “double spending.” Furthermore, he also mentioned that lotteries from across the entire country have shown interest in adopting the technology.

The adoption of the technology will also guarantee that all winnings greater than 100,0000 pesos are certified, adding another layer of traceability and responsibility to the lottery.

Not least, Ayestarán sees blockchain as an ideal stepping-stone to pull the entire lottery experience away from the physical domain and into the online space.

While Ayestarán seems excited about the potential innovative twist blockchain is bringing, not everyone is quite as keen to go ahead with the adoption. Confidence in new tech is often low in Latin America, the chief executive warned, and people prefer to stick to analogous solutions instead.

However, Argentina and other countries in the region would all benefit by adopting new safety technologies that can lead to more transparency and trust. Even more importantly, the advance of technology that usher in trust, Ayestarán said, correlates to the instability of local national currencies.

In a way, cryptocurrencies are a way to overcome this instability, and blockchain is all about introducing these new ways to balance the monetary instability, Ayestarán suggested in conclusion.

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CGN senior journalist 

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