For example, if a person wishes to transfer money to another person, he could use the blockchain. What this technology does is take the information that represents that money and replicate it in many parts, that way, if someone wants to alter its value, it will not be able to do it since, although, it may have modified the data of one block, the others , which continue with the original value, will be the witnesses who will determine that this information is wrong .
This translates into an enormous potential that impacts on the trust of the people . For example, banks are traditionally responsible for helping people carry out their transactions, their job is to assure their clients that the amount of money delivered by one person will be the same as that of another person. The Blockchain can do the same, cheaper and without intermediaries. Pure technology
With the promise of eliminating intermediaries in the market, Blockchain could also threaten other businesses that operate with digital platforms, such as Uber.
As explained by Mauricio Tovar, Co-director of the research group InTIColombia of the National University , within the framework of the Blockchain Summit Latam , while Uber charges, by its intermediation, 25% for the trips made in its application, a group of designers and developers could create a similar service that uses Blockchain charging only 5%.
The difference for the collection of the commission would make the user, by economy, prefer a service and discard the other, something that would mean the disappearance of Uber in the market .
In addition to the above, the Blockchain could also be used to verify the identities of drivers, vehicles and passengers, thus providing security in the community that uses this type of collaborative economy.
Uber is just one example of the companies that the implementation of the Blockchain could impact, but the same could happen in other scenarios such as politics.
Tovar explained that an advance project at the National University allowed the students to choose their representatives in three public schools in Bogotá through a voting system that had a Blockchain base.
How is Colombia in terms of Blockchain?
This week the capital of the country was the host of what is the most important event in Latin America, the Blockchain Summit Latam. What placed Colombia on the map of this technological tool.
As explained by Tovar, the country is currently the third in the region that registers the most use of blockchain for cryptocurrency transactions . But he also said that this technology in the country is barely taking its first steps where both the public and private sectors advance bets to develop future applications.
The good news is that in the world the Blockchain does not take long, so the path that remains to be explored in this technology is just beginning its journey.
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