Paraguay has established the Paraguayan Blockchain Chamber to foster financial innovation on a sovereign blockchain. The initiative, called Legaledger, is the world's first third-generation blockchain with national sovereignty and is built on the Hyperledger and Besu platforms. It aims to develop blockchain solutions for various sectors, including government, finance, commerce, civil, and military ecosystems. Legaledger features an exemption from gas fees for transactions involving military and legal security. The project's innovative design facilitates seamless interoperability across countries. The goal is to provide legal security for procedures and transactions carried out on the blockchain and eliminate risks such as identity theft and fraud. Challenges have arisen in tokenizing real estate assets, highlighting the need for a unique digital law to ensure legal security in the tokenization process. The establishment of a sovereign blockchain network with legal security would make a country an international digital jurisdiction.
- Content Editor ( crypto-news-flash.com )
- 2024-09-25
How Paraguay is Redefining Blockchain Sovereignty with Legaledger – No More Gas Fees!