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Colombia Adopts Blockchain and Crypto

Many governments are getting friendlier with cryptocurrency. Many of them regulated cryptocurrencies the same as commodity or security. Some countries are also trying of launch their own CBDC. In...

Written by Wallebi Author · 1 min read >
Colombia Adopts Blockchain and Crypto

Many governments are getting friendlier with cryptocurrency. Many of them regulated cryptocurrencies the same as commodity or security. Some countries are also trying of launch their own CBDC. In fact, governments are realizing that cryptocurrency is the future money. Meanwhile, blockchain technology is attracting attentions to itself. Institutions, companies and governments are finding out the potentials of this new technology. The blockchain gives them security and transparency to store and transfer data. As a result, they are trying to apply blockchain technology for their own purposes. Recently, Colombia adopts blockchain and crypto.

Apparently, Colombia is going to be another pioneer country in blockchain technology adoption. In line with Wallebi, Colombia planned to increase the blockchain mass adoption in the country. The government targeted major institutions in order to guide them in blockchain adoption.

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Colombia Adopts Blockchain and Crypto; Colombian Technology Ministry Endorses Crypto and Blockchain

Colombian public institutions pointed out ten areas, which could benefit from blockchain solution.

The MinTIC (Ministry of Information Technology and Communication) in Colombia announced to public sectors to adopt blockchain. The MinTIC released a draft, which guides sectors in order to how adopt and implement blockchain technology. They explained in this draft the advantages and disadvantages of executing blockchain within projects of public institutions.

The ministry also noted that the country is suffering from lack of blockchain technology adoption. They compared Colombia with other countries such as China, the United Arab Emirates, Canada, the United States and European Union countries.

This guide prepared by organizations such as Universidad Nacional de Colombia, ViveLab Bogota, Bogota City Hall. They proposed ten solutions, which could be executed. The solutions include, land registration, payments in crypto, identity data management, voting, health records, supply chain, filling of academic degrees, business records and management of taxes and public tenders.

As a result, those solutions will remove third parties from the procedure. In addition, it brings the transparency and confidence in data management.

Written by Wallebi Author
Author and analyst in the field of cryptocurrency Profile

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