Colombia

Blockchain Colombia Association to Provide Education on Blockchain and Cryptocurrencies

Colombia Home To Many Blockchain Companies

Blockchain technology is becoming fashionable in most countries. Colombia has not been left out of the blockchain boom. Six public and private companies (Buda Colombia, Bitcoin Colombia, Cajero.co, IntiColombia, Panda Group and RSK) have come together to launch the “Blockchain Colombia Association” (Asociacion Blockchain Colombia). This association aims to promote training and education in relation to the operation of cryptocurrencies and blockchains. Another mandate of the association would be to serve as a bridge that would give voice to institutions and serves as an interlocutor for dialogues with the government.

Mauricio Tovar, co-director of IntiColombia started the event with a talk on the usefulness of blockchain technology and the revolution it has started in various areas of daily life. A reason for the technology to be considered the fourth industrial revolution in history by many.

“It is very important that Colombia is included quickly (in the Blockchain space) to take advantage of the opportunities. The foundation wants to be an actor that articulates the whole system and that finds the solutions to adopt this technology”, Tovar said

Corrupt Traditional Financial System

Maurico Toro, a representative of the “Partido Verde” elected by Bogota to the Chamber, spoke about the situation that exists in the Senate in relation to the discussions associated with cryptocurrencies and blockchain technology.

“The financial system today is abusive to Colombians with extremely high rates as well as additional costs that should not be charged. This is why “technologies that oblige banks to self-regulation are needed,” said Toro.

Mauricio Tovar gave as an example, the operation of a blockchain network to guarantee the security of information, confidence in operations, transparency in the process, decentralized management of information and reduction of cost.

Optimal Technology The World Desperately Needs

He stressed that the sector in which this technology has generated the most impact is the financial one. This is because blockchain technology optimizes processes that originally consume a lot of time and are costly. It also eliminates double spending. He mentioned that as blockchain technology is applied in more spheres of our daily life there will be more control in the hands of the people.  This also implies greater responsibility for the individual.

To carry out all these tasks, the association has contemplated focusing on areas of special interest for the evolution of the ecosystem at a local level, as well as being in search of institutional alliances that reinforce the work that is to be promoted.

The Blockchain Colombia Association will be organizing events and meetings soon to inform the members of the community about the progress and the initiatives that they plan to carry out in the short and mid-term.