Blockchain in Latin America, what to expect?

During the Crypto Latin Fest it was demonstrated that Latin America has a bright future in terms of the world of Blockchain and cryptomontages. In this article we bring you a little bit of the highlights regarding some interesting projects that are taking place in the region right now.

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The future of the Blockchain: what awaits us in Latin America?
During this conference participated mainly Phillipe Boland, a Frenchman who works in Colombia in formal education for the Blockchain. Alberto Guerrero Montilla, a Venezuelan with extensive experience in the Blockchain space in Latin America, also participated.

This panel also included the participation of Magdiela Rivas, the director for Latin America of Paxful and Carlos Sánchez, director of ICT for the government of Tolima.

At first the conversation was focused on giving the public a general concept of what Blockchain technology represents. Therefore, the first to speak was Guerrero Montilla.

For the Venezuelan, Blockchain has a lot to do with a decentralized data network and a distributed registry. According to him, this technology is destined to „have an almost overwhelming presence in the digital world“. This is because it offers a much bigger opportunity at an international level than at a local level for all kinds of projects.

Another feature he highlighted was the transparency offered by blockchain technology. According to Guerrero, what this technology does is open „a gigantic door that offers the Internet safe ways to send personal data. However, this data can even be in the form of programmable money.

Blockchain is a platform where everything that works on the Internet can have a kind of public and immutable history. „It’s a way to stay on the Internet, where I don’t need to trust because everything is in a transparent way. It is precisely this that makes you not need referees or a central axis,“ Guerrero said.

How could it help to optimize processes in government entities?

During this panel there was a kind of general consensus about the need to take advantage of this technology. Some commented that the important thing is to look for developers in Latin America willing to learn more about this industry.

However, Guerrero stressed that more than that is needed. You need people capable of making both private and public alliances, academics willing to teach freely, and so on. In addition, he stressed that it should be noted that Blockchain is more than just a business opportunity.

For his part, Carlos Sanchez spoke about his work with Blockchain in the government sector. Importantly, he spoke about the projects he is carrying out with the Tolima government to promote the use of Blockchain in the agricultural sector.

Specifically, he spoke about the tracking of services and quality tests with Blockchain in the agricultural production chain. According to Sánchez, the Blockchain technology is the basis of „fair trade“ and the elimination of so many intermediaries in the process.

1. September 2020