Blockchain Summit Latam: The origin and future of the technological revolution

This past May 8th and 9th, the first version of the Blockchain Summit Latam was held. It is a technological seminar aimed at explaining the origin and potential of blockchain in Latin America, and also to bring together developers, startups and organizations interested in this technological revolution.

Blockchain Summit Latam is an initiative organized by mifutu.ro and supported by public and private companies and institutions, in order to provide information on and promote the use and impact of this technology in the public and private sector at the global level. One of the main objectives of this event was connecting the developers and promoters of blockchain in Latin America with the industry’s regulators and leaders.

The Santiago Stock Exchange invited Depósito Central de Valores (DCV) to this important event, where about 300 people enjoyed the participation of more than 20 national and foreign lecturers, who shared their experience in technical, commercial and legal areas.

CORPORATE USE OF BLOCKCHAIN

The first day of Blockchain Summit Latam included topics beyond cryptocurrency, delving into blockchain and its corporate use, addressing theoretical and practical issues.

The event began with Per Hakkanson, a Swedish entrepreneur known as “digital man”, since he launched an experiment to explore how organizing all of his life through the internet would be. He opened the seminar talking about the impending change that this technology will entail, with the lecture “Inside Blockchain: Bitcoin Core, its origin and future”.

Then, companies such as IBM and Microsoft explained private blockchain and how this technology can be used in the business world to enable new business solutions.

BLOCKCHAIN: FROM THEORY TO PRACTICE

These types of technological events often talk about software for blockchain from a theoretical approach. However, at Blockchain Summit Latam, we were able to see a workshop where an application was developed, providing a range of different tools that allowed us to get acquainted with programming languages, witness how they are installed, with a workshop that was useful and practical for the attendees.

In this context, it also addressed security issues that affect this open technology. There were interesting lectures on the technical aspects involved in development, code tests and ethical hacking.

NEW BUSINESS MODELS

Companies that provide decentralized loans, ICO’s, digital currency banks and cross-border payments were some of the business models presented at Blockchain Summit Latam 2018, evidencing how this technology can render current markets more efficient, through faster and less expensive documentation and processes for end users.

The company Kybernum presented the lecture “Estonia and blockchain, challenges for Chile”, where it showed the technological advances in that country with 1.3 million people. 99% of its documentation is available online, and it has an online service to obtain the virtual residence, aimed at speeding up foreign investment, similar to the simplified documentation available in Chile to grant Taxpayer No. to taxpayers that are neither domiciled nor residing in Chile.

The seminar also presented a crowdfunding model through blockchain technology: Godzillion, a decentralized market where people can finance startups by registering their balances in blockchain.

BLOCKCHAIN HACKATHON

The #BSLHACK2018 competition posed certain challenges, where 100 participants were required to build a real solution to the problems presented in 17 hours, for a 10$ million prize.

This massive hackaton applied the blockchain to several industries. 3 companies (banks, energy and real estate and construction) presented some cases. 2 finalists were selected from the proposals, one per Company, and finally, the winner of the 10$ million will have the opportunity to implement their solution in a real Company.

Finally, the project “Intelligent Lease” was the winning proposal, which addressed the entire lifecycle of a lease, creating a record of users managed with blockchain, applying this technology to the accreditation of new properties.

Technical and business conferences of the Blockchain Summit Latam were focused on both developers and startups, and also on great exponents of the financial, energy, retail and real estate industries, among others. This invites us to rethink processes and operations, and how we, as financial markets, can provide an infrastructure to do things in a more efficient manner.

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