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Colombia Urges the Public Sector to Adopt Blockchain and Crypto Solutions

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The evolution of blockchain technology has enormously revolutionized the world, particularly in the financial sector. Blockchain technology has made fast, cheap and even more significant transactions, decentralized through cryptocurrencies. It is true that blockchain and crypto are the future of payments.

The Ministry of Information Technology and Communications in Colombia has published its first-ever draft guide, which advocates the implementation of blockchain technology solutions for the public sector, such as crypto payments.

Blockchain technology use cases in the public sector

The draft guide titled “Guide for the use and implementation of Distributed Ledger Technology (DLT/Blockchain) in the public sector” the ministry outlines the benefits and cons of adopting blockchain technology. The guide cites examples from European countries, China, UAE, USA, and Canada.

Notably, the guide which was prepared by ViveLab Bogota, Universidad Nacional de Colombia, Bogotá City Hall, and the National suggested up to ten use cases of digital ledger technology in the public sector such as: crypto payments, registration of lands, blockchain-based voting, management of identification data, healthcare solutions, record-keeping in businesses, academic degree records, supply chain and management of public tenders and taxes.

According to the guide, blockchain solutions raise confidence through transparency by eliminating intermediaries within the security infrastructure. Technology experts claim that openness and collaboration fostered by blockchain technology should improve risk assessment processes and insurance.

Blockchain and crypto solutions

Moving forward, the Colombian Ministry of Information Technology and Communications also cites the Satoshi White Paper, which quotes the ‘Bitcoin: A Peer-to-Peer Electronic Cash System,’ published over a decade ago by Bitcoin’s creator. The Ministry points out that such crypto solutions are intended to protect crypto investors.

The government has unsuccessfully tried to regulate the cryptocurrency industry in Colombia. For instance, in April last year, Colombian legislators drafted a bill to regulate cryptocurrency exchanges. The proposal aimed to define general terminology on how companies offering crypto-exchange solutions in Colombia should operate.

Wisenex Review – a Simple and Affordable Online Platform for Exchanging Digital Assets

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With the development of the crypto market, there has been more evidence of the advantage that cryptocurrency is used in everyday life. The advantage of cryptocurrencies is that Cryptocurrencies allow you to make money transfers faster, lower transaction costs compared to bank transfers. At the same time, however, users continue to face problems relating to the introduction of cryptocurrency in traditional sectors of the economy.

Many companies provide services for exchanging and storing cryptocurrencies. Though there are still a lot of concerns for the customer. Among the key problems are the following:

  • Security. Storing funds on exchanges is not safe. Users, who care about the
    protection of their crypto assets, have to suffer inconvenience when they bring
    funds to the exchange, make an exchange and withdraw to their cryptocurrency
    wallet;
  • The lack of fiat payment. Only a few of the trading platforms support fiat-crypto
    payments. Most platforms do not support trading in pairs with fiat;
  • Unsecured exchange. The number of crypto exchanges exceeds several thousand, but only a few of them fully comply with the law. Illegal crypto exchanges cannot provide legal protection to users in case of failures and other problems arising from the exchange and storage of digital funds.

Wisenex‘s Cryptocurrency Exchange Platform

Wisenex has created a convenient cryptocurrency exchange platform that solves these and other problems when working with digital assets. On the Wisenex exchange, users can easily and quickly buy the most popular cryptocurrencies with credit cards, such as BTC, BCH, ETH, LTC or USDT stablecoin.

On the Wisenex exchange, Users can exchange cryptocurrencies online at a low rate and without hidden fees. All information is immediately available during payment, so there is no need to search for additional information in different sections of the site, as it happens on some exchanges.

It is quite easy to buy bitcoin with Wisenex: you need to choose a currency, specify the transaction amount and payment method, and register a bitcoin account. Transactions are fully automated and protected by advanced encryption methods.