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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.

Singapore Worksite Trialing BluePass Contact Tracing and Check-in System to Curb COVID-19

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Worksite in Tampines, Singapore, managed by Surbana Jurong, is testing the application of a new BluePass contact tracking gadget and a check-in system to curb coronavirus spread. According to a report by The Straits Times on July 17, more than 400 workers were issued a BluePass wrist-mounted gadget and used Bluetooth technology to interact with other users in the vicinity every 5-10 minutes.

The new contact tracing and control system gives the managing company, Surbana Jurong, greater awareness and control of the social engagement of coronavirus patients to reduce the spread of the virus within the worksite. Notably, this new step is essential to circumvent another epidemic and shut down the economy.

COVID-19 spread management system

Moreover, the technology and gadget being tested were created by Temasek-backed cryptographic firm D’Crypt.The BluePass contact tracking and check-in system could even potentially enhance the national contact tracing gadget, TraceTogether Token, and the compulsory blockchain-based check-in system dubbed SafeEntry.

According to the Chief Executive Officer of Surbana Jurong, Mr. Wong Heang Fine, data retention and control over contact tracing is very important for firms. Recording the data of people who were close to the coronavirus patient and tracing the areas the victim had taken so that possibly infected personnel could be detached from the rest of the patient. In addition, the affected regions can be closed for fumigation without having a major effect on worksite operations.

BluePass contact tracing and check-in system for effective workforce management

g On the other hand, the company that developed a national contact tracing gadget, GovTech, does not provide companies with access to the data collected due to privacy issues. According to reports, Singapore’s Ministry of Health takes about 24 hours to notify the company of a potentially infected worker. As a safety measure, most companies quarantine the entire facility waiting for further instructions.

Like the TraceTogether Token, the BluePass Gadget uses Bluetooth signal exchanges to log in to nearby users every five to ten minutes. In addition, each BluePass token is connected to a contact number and the last four NRIC, FIN, or passport numbers of the holder are encoded on the gadget.