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Approach to Blockchain and Smart Contract in Latin America: Application in Colombia

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Applied Computer Sciences in Engineering (WEA 2019)

Part of the book series: Communications in Computer and Information Science ((CCIS,volume 1052))

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Abstract

Blockchain is a database that allows to develop transactions between two agents without the need of intermediaries, can be public or private under the managements of an organization.

One of the uses of Blockchain is the development of Smart Contracts, known as self-executing programs where responsibilities of the interested parts are established and monitored without human direct participation, what allows them to be simple, unmodifiable, quick and fully automated [10].

In addition, it is worth highlighting that in Latin America the lack of regulation has led to barely incursion in a massive way into the uses of Blockchain. However, the great benefits that this technology can bring to the region are recognized.

In Colombia, particularly, the Blockchain has taken part in the government, health, industry and educative fields, among others. In fact, according to a report by BBC News, Colombia is the third country in Latin America where the purchase and sale of bitcoins grows the most. Nevertheless, in the face of regulations, its reality is not very distant to the one lived by the rest of the continent in general ways, since currently the country does not count with legislation in the area. In spite of this, the legislative power has highlighted the need to define this controls and law projects are currently underway in order to regulate the cryptoactives use and interchange.

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Authors and Affiliations

  1. Universidad Distrital Francisco José de Caldas, Bogotá, Colombia

    Luz Angélica Téllez Ordoñez, Evelyn Juliana Ruíz Niviayo & José Ignacio Rodríguez Molano

Authors
  1. Luz Angélica Téllez Ordoñez
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  2. Evelyn Juliana Ruíz Niviayo
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  3. José Ignacio Rodríguez Molano
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Corresponding author

Correspondence to Luz Angélica Téllez Ordoñez .

Editor information

Editors and Affiliations

  1. Department of Industrial Engineering, Universidad Distrital Francisco José de Caldas, Bogotá, Colombia

    Juan Carlos Figueroa-García

  2. Universidad Antonio Nariño, Bogotá, Colombia

    Mario Duarte-González

  3. Universidad Antonio Nariño, Bogotá, Colombia

    Sebastián Jaramillo-Isaza

  4. Universidad del Rosario, Bogotá, Colombia

    Alvaro David Orjuela-Cañon

  5. Corporación Unificada Nacional CUN, Bogotá, Colombia

    Yesid Díaz-Gutierrez

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Ordoñez, L.A.T., Niviayo, E.J.R., Molano, J.I.R. (2019). Approach to Blockchain and Smart Contract in Latin America: Application in Colombia. In: Figueroa-García, J., Duarte-González, M., Jaramillo-Isaza, S., Orjuela-Cañon, A., Díaz-Gutierrez, Y. (eds) Applied Computer Sciences in Engineering. WEA 2019. Communications in Computer and Information Science, vol 1052. Springer, Cham. https://doi.org/10.1007/978-3-030-31019-6_42

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  • DOI: https://doi.org/10.1007/978-3-030-31019-6_42

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-030-31018-9

  • Online ISBN: 978-3-030-31019-6

  • eBook Packages: Computer ScienceComputer Science (R0)

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