Alicante’s University The First in Spain Working with Blockchain Technology

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Interest for blockchain and cryptocurrencies in Spain keeps growing as never before. This time, Alicante’s University (UA) will be the first in the European country developing a laboratory about blockchain technology.

Alicante’s University Works with Blockchain Technology

The UA has become the first university in Spain that will develop a laboratory about distributed ledger technology. This has been possible due to the fact that the UA worked side by side with the International Economy Institute. The new laboratory will be called BAES (Blockchain Applied to Public Administration and Enterprises).

The information has been revealed by the academic institution and has marked the value of blockchain technology as a revolution in different fields and industries.

As the UA informed, the main objective of the BAES will be to develop blockchain technology in public administration and in private companies. This will help Spain reach the highest standards on the matter in Europe.

The headmaster and Commercial Law at UA, Carmen Pastor, explained that she is trying to contribute to administrative digitalization and be an example all over the world.

The teacher commented on the matter:

“This means that build, for example, a financial transaction or an electronic vote we will not need a third party such as a bank as it has been until now. And we believe these parties will adapt to the new realities, in addition to the governance problem and potential risks that, in the field of democratic representation, may arise.”

Blockchain technology has been growing in different economic sectors, including public administration, economy and education. The financial world, for example, has made important developments using this technology.

“This technology presents a very big potential with infinite options for pubic administration and enterprises, independently of their size,” the teacher explained about it. “Everything that is possible to be registered, liquidated and compensated could be done using distributed ledger technology.”

BAES was born at the end of 2017 and it now has different operative centres from where it will be possible to develop different tests to improve the efficiency in public and private companies in the country and abroad.

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