In the wake of today’s news that a major political party in Spain has submitted a blockchain-related proposal to the Spanish Parliament. The proposal recommends that the government introduce blockchain to improve governance “with the aim of improving internal processes and [providing] traceability, robustness and transparency in decision making”.[REITs]
The proposal, signed by 133 deputies of the Popular Party and submitted to the Congress of Deputies, the lower chamber of the Spanish Parliament, comes at a time when various European jurisdictions are attempting to grapple with the creation of appropriate regulation around the nascent European blockchain sector.
Wachsman works only with leading projects within the blockchain industry, and a number of these clients are led by eminent Spanish blockchain experts, entrepreneurs, and technological innovators, or have dedicated interests in the Spanish blockchain ecosystem. These clients include Orvium; DASH; and Olyseum.
Manuel Martin, Co-founder, Senior Project Leader and Blockchain Expert at Orvium, said:
“In recent months, Spain has been increasingly active within the international blockchain ecosystem.
Important initiatives such as Alastria or BAES are making enormous efforts and doing tremendous work to establish semi-public infrastructures to drive the efficient adoption of blockchain technology in the public and private sectors.
Today’s news concerning a proposal made to the Spanish parliament is just one more step toward positioning Spain at the forefront of blockchain adoption, further introducing the blockchain and the benefits it can accrue. If public bodies, such as the National Securities Market Commission (CNMV) follow the example set by institutions in other crypto hubs and define a legal framework for ICOs, they will fully unlock the huge potential of blockchain disruption. “
Fernando Gutierrez, CMO at Dash Core Group, said:
“Spain’s Public Administration is fragmented, slow and inefficient. On top of that, corruption cases are numerous and affect every political party that has held power. Blockchain technologies could improve transparency and traceability in all administrative processes. However, in order to make a real difference, there would need to be a real will to change. No political party has pushed for change in the administration in decades, so it is unlikely that they will anytime soon by using a technology they don’t yet understand.”
Carlos Grenoir, CEO of Olyseum, the blockchain powered social network for sports fans, said:
“Tapping into the power of blockchain technology to operate the country’s public administration more efficiently would be a very progressive step for Spain. Blockchain is already facilitating new levels of cross-sectoral innovation, but it can also enable greater traceability in Government administrative processes.
Pursuing blockchain technology demonstrates a Government’s commitment to transparency and a zero-tolerance approach to corruption which sends a very positive message to citizens. Current levels of bureaucracy can significantly slow down progress within Governmental departments, and blockchain provides a unique solution – helping to drastically speed up administrative processes and increase trust among citizens.”
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