Fourth Generation Blockchain

In this 2020 edition, two major issues around Blockchain were addressed:

• The reality of Blockchain
• Blockchain as a business model

The reality of the Blockchain

Blockchain is already used in many areas of business. In Electoral Processes Minsait incorporates Blockchain as an immutable log of actions in its voting product, ODEO. 

New generations of Blockchain must overcome issues such as scalability and the generation of mutual trust between parties. 

Minsait implements scalable solutions to support high-concurrency electronic election processes.

Blockchain as a business model

Is it possible business models for new companies and start-ups, or even for professionals who plan to develop their careers around this technology?

The market shows that it is, even though private companies find it difficult due to the lack of profiles capable of implementing and maintaining this technology.

New opportunities and businesses are opening up all the time: in traceability, Verifiable Credentials with the impetus coming from the EU, verification and auditing of Blockchain implementations and Smart Contracts, as well as in different sectors where distributed trust is being encouraged.

During the colloquium there was also an opportunity to present the vision of private enterprise on the one hand, and the university and research community on the other, finding in these points of opportunity / risks and reality a common vision on the Blockchain, its present and future.

Conclusions

Although the blockchain has just begun its journey as one of the disruptive technologies of digital transformation, there are already use cases that validate its potential to transform the business models of large private companies or to promote a more reliable electronic administration, even transforming participatory processes -such as elections- in a non-presential manner with security guarantees, but also to give startups the opportunity to devise new business models that can arise with this technology.