In Buenos Aires 16.2 percent of the population lives below the poverty line. Tech company NEC, the NGO Bitcoin Argentina and IDB Lab (the Innovation Laboratory of the Inter-American Development Bank Group) will develop a blockchain identity system to make financial services and other services easily and cheaply accessible to the poorest citizens of the Argentinian capital.
People who live below the poverty line have a major problem of accessing services and gaining information. This is called the poverty penalty, an unfair advantage to which blockchain technology can provide a solution.