Blockchain technology in Andorra

2019-10-03

block chain Andorra

Blockchain technology, or blockchain technology, is a database that serves as a record of purchase transactions or other transactions. This keeps a set of distributed, decentralized, synchronized, and secure records on the information where computers and other devices operate. something similar to a public disk but in the digital domain. In these files, you can uniquely identify each person and device, allowing you to store and track that identification at any time.

The blockchain has the advantage of allowing you to record any type of transaction, contract or document on the Internet in a tamper-proof, transparent and verifiable way, without it being necessary to validate its validity by an external person. It also allows the evolution history that this agreement or transaction may need to be added to the chain with the same reliability. This process will be repeated in each payment, contract, task, which will have a faithful record. For this reason, crypto-currencies such as Bitcoin use this system.

The Andorran government is a pioneer in adopting this technology to treat all academic degrees in order to create a safer registry. This new installation omits the deletion and modification of records, which makes the process more secure. It also allows the education sector to reduce administrative costs, which is a significant advantage over the manual process.

This system should also be implemented to deal with initial and secondary education titles, as it allows for better control, reduces costs, and increases the security and timeliness of securities processing and control. This shows how much the Andorran Government is committed to its people and also shows the ability to adapt new technologies in its offices to facilitate and streamline processes more efficiently.

In the future, it is estimated that the Hague Apostille will no longer be needed for title verification at the international level, as the Blockchain system used in Andorra is much safer and easier to apply.

The blockchain could also be used in the financial sector to maintain a registration system without the participation of third parties, thus developing the potential of businesses in Andorra.

Currently, Blockchain technology as well as mining and cryptocurrency do not have a regulatory framework in the financial and commercial sphere of Andorra, but the government is trying to create legislation allowing the development of Blockchain technologies. , cryptocurrency and extraction.

Andorra is a country of innovation and technological development, where I can open the door for any young entrepreneur who wants to develop a digital technology company.