Alastria Proposes Reform of Royal Decree to Contain Coronavirus in Spain

Alexander Salazar
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Alastria Proposes Reform of Royal Decree to Contain Coronavirus in Spain

The consortium recommends using cell phone data to geolocate patients. There have been more than 10,000 deaths in the Spanish territory due to the coronavirus pandemic.

The Spanish consortium of corporate services with blockchain technology, Alastria, presented a proposal to the Spanish Agency for Data Protection (AEPD) to reform the Royal Decree Law on the state of emergency regarding the coronavirus. The initiative of the organization is to provide legal support to the government’s geolocation plan, to track its citizens’ cell phones so that it can counteract the spread of the disease COVID-19.

The action plan comes from the Ministry of Health, which commissioned the use of an application to analyze population movements and check the health capacity in each province to face the pandemic.

The idea is to include an article in the Royal Decree-Law so that health authorities can use cell phone data to geolocate patients and individuals at risk, according to an unidentified source. It was not clear if Alastria would participate again in the technological area or if its members would provide other types of assistance.

Alastria’s initiative would receive the support of its associated companies, among which are Repsol, Santander, Endesa, Siemens, BBVA, Orange, Sanitas, and Innova.

Data Protection

The scenario could be more complicated than it seems since the AEPD considers that the emergency cannot presuppose a suspension of the fundamental right to the protection of personal data. However, the agency stated that the protection of data could represent an obstacle to measures that government or health authorities can adopt.

There is questioning on the social networks of the plans to use users’ data to detect their possible location since it makes their privacy vulnerable. For example, the user @DavesRadar thinks that the situation could escalate due to the tracking application.

He said that many “expert scientists” are already asking for the tracking application. He explained that to be allowed to leave their homes, users must install it and take the test to determine if they are infected or not.

In response to this comment, user @daviddomingosa2 stated that this may lead to the criminalization of the sick, with the unusual excuse of contagion, and the application of punitive taxes, as well as social control. However, it will be easy for people now to begin to understand what it is all about.

The Spanish blockchain ecosystem has suspended events related to distributed ledger technology (DLT) due to the rapid spread of the disease COVID-19, against which there is still no proven vaccine.

Even in Spain, there have been reports of ransomware computer attacks against hospitals and health centers, taking advantage of the pandemic. The hackers involved have requested Bitcoin as a ransom in order not to release locked information that they may violate.

This situation led to creating a computerized containment group called COVID-19 CTI League, which is composed of cybersecurity specialists. They will be responsible for monitoring possible e-mails with malicious content, while the pandemic lasts.

The Royal Decree-Law on coronavirus alarm in Spain was issued in mid-March, but the situation in the country has become worse over the weeks, with over 10,000 deaths and 110,000 confirmed cases. Only Italy outnumbers these figures, with 14,000 deaths since the first outbreak of the disease detected in China last December.

By Alexander Salazar

Colombian Union of Public Accountants Highlights Uses of Blockchain Technology and Cryptocurrencies

Josselyn Avila
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Colombian Union of Public Accountants Highlights Uses of Blockchain Technology and Cryptocurrencies

The National Institute of Public Accountants released a news bulletin on distributed ledger technology. The organization considers them emerging technologies that must undergo assessment in the future.

The National Institute of Public Accountants (INCP) of Colombia recently published a new bulletin that makes reference to cryptocurrencies and the distributed ledger technology (DLT) that supports them. The union described decentralized ledgers as an emerging technology that should undergo evaluation in the future in terms of their multifunctionality.

In the document titled “Guide to the internal audit of blockchain”, the organization explained the basic principles of DLT operation, consensus mechanisms, P2P networks, smart contracts, and their possible applications. The institute echoed analyses that consulting agencies Deloitte and KPMG have previously conducted.

It is important to note that this is the second newsletter related to cryptocurrencies and blockchain technology that the institute has released in three months. The previous one was Bulletin 158, which said institute published on December 30th of last year.

Regarding blockchain, the report stated that this emerging technology will continue to undergo assessment regarding its multifunctionality since organizations will make use of in very varied manners. The text explained that, for this reason, the level of preparedness of each internal audit function to respond to the risks posed will also vary. However, it made it clear that the focus and challenge for internal audit departments will continue to be the ability to anticipate and communicate the risks and opportunities that come with technological advancements.

In relation to cryptocurrencies, the Colombian union stated that they are the next link in the chain as they are a phenomenon that the revolution of payment systems has driven, due to the increasing penetration of the Internet.

According to KPMG, the institute considers that blockchain “fits like a glove” as it is a sequentially ordered transactional record, with the only possibility of adding records. This technology does not provide the option to modify or delete them, which translates into a potential to create new payment systems on a global scale through the Internet.

The bulletin highlighted that countries worldwide need to consider how payment systems are going beyond the traditional control mechanisms of monetary authorities. It also mentioned Facebook’s announcement to launch its own cryptocurrency, Libra.

In the past, authorities or institutions from various countries have addressed aspects such as the supervision of cryptocurrencies and their accounting records, as has happened in Spain and Venezuela. In the case of the European country, there is already legislation that requires users to declare the ownership of cryptocurrencies such as Bitcoin.

In Venezuela, the Federation of Colleges of Public Accountants recently approved a bulletin that lays the foundations for how cryptocurrency owners must declare their holdings and how accountants must establish them in accounting records. Even though the position on cryptocurrencies and blockchain technology in Colombia is more closed, the fact that INCP highlights their potential applications sends a signal that there are organizations more open to potential adopters.

By Alexander Salazar

Bitso Allows Mexican Users to Buy and Sell DAI with Their Local Currency

Maria Rodríguez
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Bitso Allows Mexican Users to Buy and Sell DAI with Their Local Currency

Only users in Mexico will be able to use their national currency to buy or sell DAI.

The most recognized cryptocurrency exchange platform in Mexico, Bitso, recently enabled the option to buy DAI in Mexican pesos, the national currency. According to local reports, this alternative will only be available to users residing in the Aztec country.

The official blog of this crypto exchange house issued the news last March 30th. The statement expressed that since March 31st the option to buy the renowned stablecoin DAI, using the official currency of Mexico, will be available on its platform. The platform ensures that it is an important step for crypto trading in that Latin American country.

Currently, the operations with this national and fiat currency in the crypto exchange house are limited. Besides, the DAI cryptocurrency will have the status of trading through orders with a limit per user. These types of limitations are common among virtual exchange houses. Their objective is to maintain control of commercial traffic and avoid saturation of the platform in places where there may be high demand.

The announcement also clarified that exchanges between BTC / DAI and DAI / Mexican pesos are possible on the platform since April 3rd. Thus, giving users time to learn about the mechanisms of operation of the new method of exchange. Bitso communicated that this new type of exchange would only be available for Mexico. For this reason, Bitso invited users from Argentina to buy DAI using another cryptocurrency, such as Bitcoin.

Without giving more details about other plans in the future, Bitso’s announcement indicates that new changes will be incorporated. The exchange house hopes that these new options help users to plan the exchange between the different cryptocurrencies available.

Bitso Gives Priority to Stablecoins

In this new exchange method that Bitso incorporates for its users, the importance that the company is having with the so-called stablecoin is evident. DAI results to be the second cryptocurrency of this type available on the platform. Allowing the free exchange of this cryptocurrency with the Mexican peso would help boost the cryptocurrency market in Latin America.

On the other hand, the first stablecoin added to Bitso was TrueUSD. This cryptocurrency works through the CRED network, which pays to hold fees to its clients. Also, this stablecoin contains the functionality to block accounts and assets if someone can determine that these assets were used in fraudulent events. This is something that offers a higher level of security and trust among customers.

The platform contains information related to the management and flow of exchanges between Bitcoin and DAI. Therefore, it is evident that there is a large volume of commercialization of the cryptocurrency. This could determine the recent addition of the Mexican peso to the DAI purchase.

Besides, there is a graph that illustrates the level of commitment that the platform gets from exchanging these assets. According to the platform, the more cryptocurrencies are bought or sold, the lower the commission Bitso asks for the exchange.

By María Rodríguez

Louis Vuitton Asks for License to Use Crypto Technology in Brazil

Maria Rodríguez
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Louis Vuitton Asks for License to Use Crypto Technology in Brazil

The company that manufactures luxury products assured that this initiative would fight piracy and counterfeiting.

A recent publication of the Revista da Propriedade Industrial (RPI) informed that the company Louis Vuitton has conducted the corresponding procedures to request the Brazilian authorities the use of its blockchain platform. The request seeks to register the famous French company in a list of companies that make use of crypto technology, financial services with blockchain, and related actions.

In March 2019, Louis Vuitton had already announced the creation of a blockchain system that would help certify the authenticity of its products. The network would help the company avoid counterfeiting and combat misuse of its brand.

Christèle Perrot, who is the representative of the conglomerate of companies in which Louis Vuitton is part, commented that the company applied for such registration. She hopes that, very soon, Louis Vuitton will be able to use the blockchain platform to prevent piracy, as well as to open up the possibility of new payment methods, among other things.

A New Market with The Use of Cryptocurrencies

The project that the LVMH conglomerate has developed to which Louis Vuitton is part of seeks not only to avoid piracy through blockchain-based certifications but also to create a cryptocurrency of their issuance. The idea is to offer more options for its users and, probably, a new service.

Perrot details some aspects of this initiative in the description that the developers made for the National Institute of Industrial Property (INPI). “Monetary and financial services in the area of ​​cryptocurrencies, processing of payments with credit cards or other processes, cryptocurrency exchange services developed for global businesses, services for payments with cryptocurrencies; cryptocurrency creation; services offered by associations or foundations, namely collecting monetary donations for third parties, financial assistance, and sponsorship”.

According to other data, this would be the second time that the conglomerate requests a record like this. LVMH has already submitted a similar request to the authorities in France. In this case, the prosecutor in charge of the request mentioned that “the data related to the deposit in the country of origin were omitted, at the time of collection of union property”.

Regarding this stance of the LVMH conglomerate, in August 2019, a press report emerged. This report assured that the CEO of that group, Bernard Arnault, would be considering founding a cryptocurrency and related services company in Belgium. However, the executive denied this information and took the opportunity to show his favorable position regarding cryptocurrencies and blockchain technology.

Some experts consider that the registration of these projects in France shows the intention to create a new cryptocurrency, rather than a service that facilitates the use of these assets.

On the other hand, Louis Vuitton does not seem to be the only brand seeking to develop more options related to crypto-assets. In middle April 2019, the company Nike registered “Cryptokicks”, in the United States of America. Representatives of the company mentioned on that occasion that they plan to create a blockchain network that allows the use of tokens.

In this way, more and more companies from different fields are interested in blockchain technology and the development of their cryptocurrencies.

By María Rodríguez

Meme Creators Receive a Reward in DAI from Artificial Intelligence Platform

Alexander Salazar
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Meme Creators Receive a Reward in DAI from Artificial Intelligence Platform

The creators receive interests in DAI through the Compound protocol. Creators of Alethea AI plan to include other stablecoins to their reward system.

Alethea AI focuses on creating content through the use of artificial intelligence. Those who can create memes and other entertainment content, through this technology, receive rewards from this platform. The specific form of such funds is the stablecoin DAI.

Through a blog post, Alethea AI announced last March 30th the launch of Meme Pools. In the message, the platform explains that it is a financing system for creators of what they call “synthetic media”. These creations include memes, videos, and even audios.

The gains for the creators come from a system whereby platform users put DAI funds into a pool. Combined user funds fall under the decentralized finance (DeFi) protocol Compound. The creators of memes finally receive the interest that these funds generate. These users have the power to leave whenever they wish, withdrawing all their funds in DAI from the protocol.

The note states that those users that have funds invested in any of the creative groups or pools will receive rewards in Alethea AI’s token, ALE, for their participation. The text explains that this token will allow creators to reward their sponsors with special content. Besides, the ownership of the token will grant voting privileges to decide on the next content to develop.

According to Alethea AI’s blog post, the PoolTogether protocol inspired the creation of the platform. The pool allows its users to put funds into a pot and receive the payment of the interest generated in a kind of lottery among the participants.

Pending Tasks of the Platform

Currently, users can connect MemePools with a wallet that allows them to interact with the Ethereum blockchain, such as MetaMask. The text also explains that the plans include other stablecoins or anchored currencies as a means of rewards. On the other hand, they are planning to add integration with the Uniswap protocol to facilitate the acquisition of DAI. With this, they seek to simplify users’ participation in the Alethea AI platform.

Another feature that they will include in the future is related to the ownership of the ALE token. These tokens will allow users to have the power to request work directly from the creators. The note adds that they will also be able to suggest new content for the entire platform community.

The reward systems are very varied between cryptocurrency projects or blockchains. Among recent cases, it is possible to mention Folding@Home, which rewards miners for putting their computing power at the service of scientific research. In this particular case, they are receiving the help of miners’ equipment to find a cure against the coronavirus and its disease the COVID-19.

To conclude, the use of artificial intelligence to create memes is just one of the many applications of this technology. The funding of creative groups allows both investors and creators to obtain financial profits, apart from providing special content that the community will enjoy.

By Alexander Salazar

BMW Tracks Vehicle Parts in Supply Chain ​​Using Blockchain ​​Technology

Maria Rodríguez
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BMW Tracks Vehicle Parts in Supply Chain ​​Using Blockchain ​​Technology

PartChain, BMW’s blockchain system, will integrate all providers into a tracking and communication system.

BMW, the renowned German vehicle manufacturer, announced that it is using blockchain technology to improve the transparency and traceability of vehicle parts in its supply chain. The car company started the PartChain project that they piloted since mid-2019.

As BMW recently informed, the system will help track vehicle parts in various production channels. Therefore, the company could control the supply chain of different international partners and collaborators.

The company issued a statement which explains that it requires a large number of partners to manufacture vehicle parts. These parts are necessary to assemble the cars. In this way, the BMW blockchain system, PartChain, will seek to integrate all commercial partners into a shared system that will track the parts until they arrive at the factory.

PartChain will allow BMW to have greater control in the shipment of parts in different production channels; thus, improving the operability and transparency of the operations related to the production process.

Andreas Wendt, Board of Management Member for Purchasing and Supplier Network at BMW, commented that the system does not allow changing the data. “PartChain enables tamper-proof data collection and transaction of data in our supply chain”, he said.

Wendt also added that the platform ensures that the information shared among its members is secure and incorruptible. “This move is designed to take the digitalization of purchasing at the BMW Group to the next level. Our vision is to create an open platform that will allow data within supply chains to be exchanged and shared safely and anonymized across the industry”.

The company has conducted the first tests of this platform by buying headlights for its vehicles. BMW buys these parts in conjunction with the German company Automotive Lighting.

After conducting pilot tests, the car company seeks to consolidate the use of this platform. Wendt said: “This year, we want to expand the project to a large number of other suppliers”. The goal is to roll out PartChain for ten other suppliers and also to expand the number of plants involved from two BMW Group has 31 manufacturing locations.

BMW hopes that this project achieves a greater scope in the future. Therefore, they not only aspire to improve the traceability of the entire auto parts supply chain but also seek to reach the control of minerals necessary for the manufacture of vehicles. Besides, PartChain currently uses Microsoft Azure and Amazon Web cloud services to support its blockchain.

In a similar project, the automobile company Volkswagen allied with Ford, IBM, and other companies to use blockchain technology to track Cobalt. This mineral is an essential raw material for making batteries for electric cars.

These are examples of how blockchain technology works in the automotive industry, especially to track materials that are necessary for the manufacture of vehicles. The versatility of Distributed Ledger Technology (DLT) continues to enable it to work in different industries, as it stores data securely and unalterable. This is what makes the difference.

By María Rodríguez

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