The use of blockchain technology in Colombia is on the rise. The National Consultant for Digital Innovation states that the objective is to offer greater transparency.

The Colombian government has kept a low profile regarding the use of blockchain technology in different areas related to official institutions. According to Víctor Muñoz, the National Consultant for Digital Innovation, the authorities seek to promote technological adoption to help with the transparency of government processes.

The once capital of drug trafficking and organized crime, Medellín, is now the most exemplary and recent case in this regard. Now, this city sets an example in implementing this technology to conduct purchasing transactions.

Its citizens have had initiatives outside the borders and Fintech is having a boom in the South American nation. Beyond that, the government has proposed a silent plan to improve its process management with the use of blockchain.

The National Consultant for Digital Innovation from the Cabinet of the President of Colombia stated that Medellín will have a blockchain platform to complete purchases for a launch program. According to Muñoz, the objective is to offer greater transparency and traceability.

Before occupying high office within the Colombian government, Muñoz was a successful technological entrepreneur. He indicated that blockchain projects are being conducted at the center of the Fourth Industrial Revolution in Medellín to combat corruption allegations.

The actions of Duque’s Government are framed within the program that the country’s Ministry of Information Technology and Communications has proposed. This program is financed with USD 6 million to introduce SMEs from traditional sectors to advanced technologies.

Another example of the use of blockchain technology in the Colombian government sector is that of Ecopetrol. The state oil company is developing a blockchain system to track and monitor the processes of its supply chain from extraction to sale.

The Colombian official also explained that various cities in Colombia have created blockchain technology communities. Besides, higher-education institutions, including the National University, the University of Antioquia and Del Rosario University, are offering training on blockchain technologies.

The actions of the government to promote the adoption of blockchain technology at the institutional level are yielding a very positive balance. Colombia ranks as the third Spanish-American country with the largest number of blockchain startups and projects, behind Mexico and Argentina.

This achievement is attributed to the Colombian state since it has established the normative and public policy bases. The objective is to transform the State digitally, according to the official from the Presidential Cabinet.

The Colombian Government has about 250 projects that are being implemented in parallel in the different entities. Muñoz noted that the greatest need is to advance in closing the talent gap in different levels and technologies.

The use of blockchain technology in Latin America is important as it adds transparency and, therefore, more responsibility to manage assets such as information and physical items.

Other countries in the region have had similar and successful blockchain use cases for government management. Brazil seeks to facilitate cargo transportation between MERCOSUR countries or in Bolivia, Peru and Paraguay, to better manage ownership titles.

Undoubtedly, its implementation on a larger scale in the region’s government processes would help transform the corruption problems that have plagued Latin American countries for a long time.

By Willmen Blanco


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