Colombia will finance new projects based on blockchain technology to guarantee its security and protect itself in cyberspace, said Arturo Luna, Minister of Science, Technology and Innovation.
Colombia's current Minister of Science, Technology and Innovation is confident in the potential and innovation offered by blockchain technology to improve security and help both public and private companies protect themselves against potential cyberattacks. This is reported by Colombian radio station Blu Radio, citing statements made by Minister Luna during a speech.
Blockchain is the most secure technology for data storage
After suffering a wave of cyber attacks that have affected several of its institutions, such as the health services and medical insurance provider EPS Sanitas, the Colombian minister has declared that The country will resume investment in projects based on blockchain technology in 2023.
The goal is to finance many of the technological initiatives focused on security, to minimize cyberattacks and guarantee the security and protection of the nation.
Luna stated that Colombia had been funding many blockchain-based projects and initiatives, The safest and most reliable technology to store and protect data, in 2019 and that there are currently many talented people who are working on the development of this technological innovation. “We want to continue financing these proposals, so that Colombia is not vulnerable to this type of cyberattacks that have been occurring,” said the minister.
In addition to blockchain, the Colombian minister indicated that the country will also finance projects based on other technologies, such as Artificial Intelligence (AI), to reinforce its same goal of cybersecurity.
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Colombia is committed to new technologies
As the ICT Minister pointed out, the Colombian nation has been committed to promoting and adopting new technologies for several years.
For example, blockchain technology has been present in several of the technological initiatives that the country has been promoting since 2021, such as the launch of the first digital bond Latin America, which was led by the banks Davivienda, Banco de la República and the IDB Group, as well as the incorporation of this technology in the land registration and public procurement processes.
In July, Colombia's National Land Agency announced the launch of the Colombia's first National Property Registry based on blockchain.
The registry is a property certification solution that will help the country achieve greater transparency and traceability in its public procurement processes. The solution was developed by Spanish startup Peersyst using the XRP Ledger (XRPL).
Blockchain technology at the institutional level
As part of its commitment to the adoption of new technologies, this year, Colombia also published a guide with new guidelines for the implementation of blockchain at an institutional level.
Colombia is one of the Latin American countries that has been working hardest on developing new technologies. The country wants to implement many of the innovations that exist today to improve its public processes, seeking greater transparency that will strengthen its fight against corruption, optimize its systems and increase efficiency.
Continue reading: Colombia presents a new guide for blockchain adoption
Main image from Pixabay
