Digital innovation and blockchain development in Spain have been quite significant in 2020, with several autonomous communities in the country developing innovative solutions and companies driving the growth and adoption of this potential technology.
In 2020, Spain has taken important steps towards digital innovation and blockchainThe country has seen the birth of pioneering projects that seek to promote the development of this technology within the country's companies, as well as several of its autonomous communities advancing in the implementation of blockchain to improve and optimize their processes and functions. Recently, a Spanish municipality even announced the creation and launch of a local digital currency, which will promote the economy among its residents. For this reason, at Bit2Me News we dedicate a space to the most innovative blockchain projects that were presented this year in Spain.
Pioneering communities in blockchain
Aragon, awarded for its innovation and development at CNIS
The autonomous community of Aragon was awarded by the X National Congress on Innovation and Public Services (CNIS), held in Madrid, for its significant advances and developments in the Distributed Registry System for Public Procurement Offers, which seeks to eliminate cases of corruption within companies' contracting processes.
Also, the World Economic Forum He made a special recognition to the Government of Aragon for implementing this innovative project, which is considered one of the most important high-value initiatives of the community, in its constant fight against corruption that exists within the contracting processes.
The project presented by this community uses smart contracts (smart contracts) to eliminate the need for trusted third parties when choosing the companies or contractors that will carry out the works; in this way, human error and failure are eliminated, and projects and works are evaluated and assigned in a completely transparent and reliable manner.
Barcelona, destined to become the technological centre of Europe
The autonomous community of Catalonia is focused on turning Barcelona, its capital, into the technological and innovation center of Spain and Europe. The community has the association Barcelona Tech City, whose goal for 2022 is to turn the Spanish capital into the main hub technology industry across Europe. This association is playing an important role in the industry, promoting innovative projects that encourage and incentivise the adoption of blockchain for development and innovation.
In the middle of this month, Barcelona Tech City signed a agreement Generalitat, the institutional system of Catalonia, for the opening of two innovation centres in strategic sectors of the city. The first technological centre will be intended to provide technologies for the development of the health industry, while the second will focus on the mobility sector and other related areas, such as infrastructure and telecommunications.
With the development of these two centres, Barcelona is on its way to becoming a true technological hub. Throughout the year, Barcelona Tech City has developed alliances with other organizations to offer innovative technological services to counteract the effects of the global coronavirus pandemic.
It may interest you: Aragón continues to expand its public proposals based on blockchain technology
Elio, Lebrija's digital currency to reactivate its economy
In the Spanish municipality of Lebrija, Seville, which has been severely affected by the COVID-19 crisis, Mayor Pepe Barroso announced on December 21 the launch of his own digital currency, called Elio, which is intended to offer financial aid to the population to encourage consumption within its jurisdiction, in order to reactivate the internal economy of the municipality.
According to reported The mayor told local media that the program will begin benefiting 593 families and 393 companies that are part of the Reactiva Municipal Aid Plan, which will receive financial aid through Elio. In the case of families, the aid will be based on their family unit, considering the number of children under 18 years of age; while companies will receive a fixed amount.
The municipality's digital currency will allow the population to receive financial aid and purchase basic consumer products in local stores, stimulating the economy within the municipality.
Companies and organizations that promote technological development in the country
BlockchainFUE, a pioneering project in Spain by Fundeun and BAES
In the middle of this year, the Alicante Business-University Foundation (Fundeun) and the BAES Research Group announced the creation of BlockchainFUE, the first cooperative aimed at offering a public network based on blockchain technology to promote the study and research of the potential and benefits of this technology in Spain.
Fundeun, which has more than 30 years of history and experience, has been participating in several innovative business projects to boost the technological development of the country, such as the HackaCHAIN y HackOVID, which encourage the use of blockchain among their competitors for the development of valuable applications and solutions.
IBM and Lanzadera, promoting the development of new technological startups
La alianza The event, held by these two large companies at the beginning of this year, seeks to promote the development of Spanish startups focused on innovation and new technologies, such as blockchain and Artificial Intelligence (AI).
The agreement allows new technology companies to benefit from specialized technical advice from IBM, which also makes available more than 100 of its innovative products and services for the development of new companies and the design of solutions to optimize their processes. Likewise, the alliance between IBM and Lanzadera seeks to financially help developing technology companies, with grants and financing of up to $120.000 USD for one year.
UNE, standard for decentralized identity in blockchain
Another important and valuable use for blockchain is the one that the Spanish Association for Standardization (UNE) recently announced. The association reported on the launch of a new standard for the technology industry, the UNE 71307-1, which regulates the management of decentralized identities on blockchain.
According to the statement, the new industry standard will allow for the efficient regulation and management of the issuance, administration and use of blockchain-based digital systems that enable the characterization and identification of individuals or organizations, facilitating the creation and control of digital identities in a self-managed manner, without the intervention of third parties or centralized parties.
Digital transformation law approved in Spain
This year, the Spanish Senate also took an important step towards building the country's new financial system, with the approval of the bill for the country's digital transformation. Included in the Bank of Spain's Strategic Plan 2024, the new law seeks to enable innovation and responsible technological development while boosting Spain to become a technological benchmark in Europe.
The new law allows for the creation of a regulatory sandbox where companies and entities in the country will be able to innovate in blockchain, creating and implementing different technological projects, which allow for an in-depth analysis of the current financial system from all angles, including the legal and judicial framework, facilitating the safe and sustainable development of the different proposals and solutions.
On the other hand, to continue promoting technological development, representatives of the FinTech industry they requested, earlier this month, the implementation of a precise regulatory framework that will help consolidate the growth and development of the sector in the country.
Continue reading: Senate of Spain approves digital transformation law for the financial industry
