Blockchain is an innovative technology that enables the establishment of a decentralised platform that validates the authenticity of transactions and information via consensus of the network components. These characteristics make it a technology with infinite applications in multiple areas and sectors, including: banking, insurance, IoT, SmartCities, contracting, etc.
Thanks to Blockchain, a new way of legitimising all transaction types, both civil and mercantile, has been established, based on the authorisation and legitimated trust awarded by all participants.
The Internet as a current means of exchanging information is evolving towards an exchange of trust between the stakeholders in a process, without the need for authorisation by central organisations or third parties.
Blockchain offers the possibility of conducting standard activities and processes more cheaply, quickly, safely and legitimately. This trend is developing most quickly in the finance sector. Blockchain also enables activities to be carried out, services to be provided and processes to be executed that were not feasible before its existence: certifying identities without requiring authorisation by a governmental system, and registering material without an intermediary.
The use of Blockchain is rapidly growing among top organisations worldwide: the Bank of England is studying the possibility of issuing a cryptographic pound, China's central bank has already prepared the yuan coin. Sweden will use Blockchain to digitalise its property register and Germany is using Blockchain for its energy transition process. In Russia, the first bank with its entire core created based on Blockchain has already been launched.
In which areas can Blockchain be implemented?
Payments and remittances: this and finance in general represents the highest potential use for greater maturity and production projects.
Energy: another sector seeing sustained research into the use of Blockchain throughout the whole value chain is energy, ranging from operations such as energy distribution to asset management.
IoT: the Internet of Things requires an additional level of security and verification, and Blockchain is responding to this need.
Intellectual property: some years ago, it was a ground-breaking area. Now, however, many initiatives pertaining to notarisation, registration, patents and certification use Blockchain, another example of its growing use.
Content distribution: the value chain of content creation comprises a large number of partners, from the content creator to the consumer, meaning that users pay more and the creator receives less. If the Internet changes the cultural industry from here onwards, this transformation will seem like child's play in a few years' time.
Supply chain: Blockchain increases transparency, simplifies document management and approval, and provides a framework of trust for parties that do not know each another.
Insurance: Blockchain offers ways of improving efficiency, designing new services and insurance products, and automating key processes, which for some time now has prompted research within the sector and the implementation of various proofs of concept.
Identity management: a large number of the aforementioned Blockchain applications will need to undergo a process of identity authentication and verification of the users in order to deploy their full potential.
What makes us stand out
We have a long record of accomplishment in developing and applying technologies, and managing large-scale projects. For this reason, we are at the forefront of creating our own methodologies for developing Blockchain projects, characterised by their speed, efficiency, cost optimisation and reduced time to market.
We combine the experience, creativity and dynamism of our fast-paced teams with our large-company capacity, which gives us a leading position in the Blockchain market.