How the blockchain works and how the world will change

In recent months at the events where I had the good fortune to participate as a speaker, at the World Blockchain Summit of Abu Dabhi with Francisco Benedito, the IoTCamp Blockchain Camp with Ramón Quesada, Enrique Melero, Francisco Benedito and the Non Central Conference organized by Alex Casas, the most important Blockchain event in Europe, repeated the same question: How to apply Blockchain to companies?

Companies should not develop a project in Blockchain without taking the time to understand the real and commercial advantages offered by the technology.

Blockchain, challenges and business

Blockchain can support new businesses and trusted models. There is enormous potential, but we are in an environment where headlines promise us something that we frankly cannot have.

If a process continues to depend on paper, no Blockchain will solve that problem. Once the data has been digitized, we could use chain blocks, but maybe it is not what we want.

Ways in which blockchain will change the world

Digital identity

In the future and really not very distant, it is expected that the Blockchain technology is implemented in everything, especially in the identity management system that is one way or another will allow a secure exchange between different users worldwide

it is thought that the first steps will be used DLT technology where the authority will not be unique, but will form a multitude of actors that generate confidence.

All this is done in order not to create a dependency on a controller or issuer in order to be able to move or secure the data. In this way, by decentralizing the process and giving the user control, no institution could compromise the user’s identity data.

Logistics

Blockchain can increase the efficiency and transparency of supply chains and have a positive impact on everything from storage to delivery and payment. The chain of command is essential for many things, and Blockchain has the integrated chain of command.

In the food industry, it is imperative to have solid records to track each product to its origin.

The same things that are necessary for reliability and integrity in a supply chain are provided by Blockchain. It provides consensus: there is no dispute in the chain regarding transactions because all entities in the chain have the same version of the general ledger. Everyone in the block chain can see the chain of ownership of an asset in the block chain. The records in the Blockchain cannot be deleted, which is important for a transparent supply chain.

Save the environment and stop climate change

Last July I had the good fortune to meet in person at the I Summit of Technological Innovation and Circular Economy, the 44th President of the United States, Barack Obama, thanks to the Advanced Leadership Foundation. He stressed the importance of diversifying the economy, “maintaining a sustainable economy” and “moving towards clean energies”, “because we can see catastrophic results as a result of global warming”

The decentralization of the Blockchain creates a person-to-person ecosystem (P2P), where the parties that participate in the system make an accounting record of the digital transactions in a distributed and consensual manner.

Facilities and tools are already underway thanks to Blockchain to democratize the global effort in protecting the environment, and create a better world for future generations, while offering attractive investment opportunities. Climatecoin and its team are implementing a revolutionary solution for the carbon markets and against the threat of climate change through its CO2 token. I see a great opportunity, and a great future for this “Bitcoin” of climate change and its decentralized carbon portal. Its approach to mitigation through its CO2 tokens will make it a very recognized currency around the world. A real blockchain success case.

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