While many discussions cover the benefits that blockchain technology offers individual users and investors, it’s also worth noting the immense advantages it can give communities as well. Now, the Argentine province of San Luis will embrace the NFT to promote both cultural and economic development for its citizens. Achieving this mighty goal through the approval of a new bill that will leverage both NFTs and stablecoins.
How San Luis Will Use NFTs
The new bill, called the ‘Financial Innovations for Investment and Socioeconomic Development,’ will see the province issue ‘San Luis Art Digital Assets’. A collection featuring a fine set of NFTs based on the works of local artists that will empower them by offering them a platform through which they can digitize and publicize their works. In addition to launching a local marketplace that will allow the artists to market and sell their NFTs.
Furthermore, San Luis will also leverage blockchain tech as it releases a dollar pegged ‘San Luis Savings Digital Asset’. With the funds behind this stablecoin forming part of the province’s budget and the tokens themselves remaining fully transferable.
Given the polarizing nature of NFTs, it is refreshing to see a community embrace the technology for the betterment of its citizens.
Want more? Connect with NFT Plazas
*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
Tokoni Uti has written extensively on blockchain and cryptocurrency for years. Her work has appeared on sites like BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.