Blockchain in Latin America
July 9, 2021
July 9, 2021
July 9, 2021
In a brief way, we can define Blockchain as a large distributed database, in which all types of transactions can be recorded directly between the parties, without the need for intermediaries, in real time, safely and with traceability. Over the last decade, Blockchain has evolved to include a collection of distributed computer network architectures that provide a trusted environment among untrusted participants. Blockchain technology can be applied to almost every sector you can think of.
Every day more Latin America countries and companies are adopting blockchain technology to help in security, distribution, transparency, and traceability, having as main features: easy user experience, high-security levels, low production costs, and a wide reach of benefits that crosses barriers.
These blockchains are adding interest to many business areas related to finance, health, technology, and others, on LeackStat Inc, we can help to implement different solutions to your business using blockchain technology.
Latin America has already reached USD77.1 million dollars only in blockchain investments in 2020, and it would maintain sustained growth of 45% until 2023, when it would reach USD232.9 million according to “The state of art of blockchain's on the spanish company” developed by Amatic, with aid from ICEX and Realsec.
Blockchain development in Panama has the potential to promote this technology in the financial industry and the logistics area, in which it has a great experience and has been able to take advantage of his strategic position, the only thing missing is to work between companies, startups, government and regulators for greater adoption of this technology that is gaining ground.
In collaboration with:
IEEE Computer Society Panama Chapter
There are many projects developments with a lot of technological interest in Latin America, for example:
Carnes Validadas, is the first system that has developed a SaaS platform that allows patrimonial activation throughs its tokenization and the individual and unequivocal identification of the animals with blockchain technology, with a meat production process, from genealogy to consumer, offering transparency, clarity, new livestock financing, insurance businesses and provide extended traceability to capture the best value and market positioning.
Mifiel, allows us to have blockchain-based legal contracts using advanced electronic signatures that have legal superiority over the simple electronic signatures that are commonly used in the United States. Its dynamic legal document system on the blockchain also allows transfer/endorsement of ownership and cancel / audit status in real-time.
Transelec, is an electric power company, they certifies renewable energy source in four substations with blockchain technology, providing it delivers information in real time, online, in a secure and verifiable way.
Ecopetrol has been able to apply blockchain, artificial intelligence and machine learning in many processes: from labor issues such as the allocation of benefits to its workers, to logistics issues such as separation and water treatment and recirculation.On the other hand, the national hydrocarbons agency carries out solutions in processes and allocation areas with RSK blockchain technology to recognize and evaluate different areas with high oil potential.
Presents a solution through blockchain with "Perú Compras" where in a data exposure presents itself while there are purchase goods and services focused process with offers from the participating suppliers. It's a project that's available with a DEMO version, and it's also under the Central of Public Procurement's supervision.
Agriledger, is improving the supply chain. Currently, the farmers in Haiti can sell their produce directly in the USA. No intermediaries. A farmer drops his products at a collection point, where they are counted and receiving an ID with all the information about the product, and now the consumers can scans a QR code sticker on the product in the supermarket and knows all details about what they are buying.
With these projects, Latin America is displaying problem-solving solutions based on this technological phenomenon, problems to which other more traditional approaches have not given any satisfactory answer. Despite still being at a transitioning stage, where the user is still trying to accommodate this new, disruptive technology, just like the internet, Wi-Fi, and many others once did. Even then, blockchain will become a thing of habitual use, which deserves all the attention and meticulous analysis, since it allows to transform financial structures that will influence all of the living areas of our society, economy, and politics included, both in Latin America and the rest of the world.
Panama has a history as a financial, trade and logistics center that be used now to become an advanced country in blockchain technology. A partnership between the private sector and the government is essential for the success
Because it lacks nothing more than to start working among companies, startups (emerging companies), government, and regulators for greater adoption of technology. Panama government has already spoken publicly about blockchain and that generates a greater force when working with this technology.
Vice-president and Treasurer of IEEE Computer Society Panama Chapter and IEEE Brand Ambassador.
“What is Blockchain and Where is it Useful” in Blockchain & Cryptocurrencies in the Digital Era virtual event - by IEEE Computer Society Panama Chapter, June 26th, 2021.
Report about blockchain in Latin America by Sherlock Communications | Download PDF 2020/2021.
"The state of art of blockchain's on the spanish company" - by Amatic, with aid from ICEX and Realsec.
Argentina - Carnes Validadas.com
Mexico - Mifiel.com
Chile - Transelec.cl
Colombia - Ecopetrol.co
Peru - Peru Compras.pe
Haiti - Agriledger.io
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