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Collaboration for the development of the Blockchain in Chile

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A few weeks ago, Forbes magazine unveiled the “Blockchain 50” ranking with the private companies that are using and developing this new technology in their businesses. To the surprise of some, in addition to the firms that were born under the guise of the “fourth industrial revolution”, such as Facebook, Google or Amazon, many of those which appear on the list are traditional companies, with several years of history.

Companies from the broadest sectors and industries are making significant investments in this area. According to the consultancy International Data Corporation, the resources involved in Blockchain projects will reach US $ 2.9 billion in 2019, an increase of 89% compared to the previous year.

The experience in all of these markets is that collaboration between institutions and sectors is fundamental for developing solutions in the context of Blockchain. In our country, a series of public-private round tables last year worked on proposals to see how to apply this new technology in different State processes in sectors such as health, energy, registry systems, financial services, commerce and digital identity. One year after this milestone, we see the first advances.

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Similarly, the recent consortium comprising the Santiago Stock Exchange, DCV and the Gtd Group is added, whose purpose is to create a business Blockchain network that allows the development of applications for the financial system based on this new technology. It is a pioneer alliance in Latin America which demonstrates that, if we want to take advantage of the benefits of the “fourth industrial revolution”, it is essential to take the time to better understand this technology and look beyond an individual organization.

A survey conducted by the World Economic Forum (WEF) showed that 51% of respondents believe that their company will be left behind in the development of new products or services if they do not invest in Blockchain, while 23% said they were losing efficiency and 15% cost savings. If we all contribute, public and private sector, we can navigate calmly through these new technologies and even appear in the first places of future rankings of Forbes magazine on Blockchain.

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