8/10/2023 - Politics and Society

Blockchain solution for corruption

By Guillermo Cid

Imagen de portada
Imagen de portada

Recent events in Chile, in particular the "Convenios" case, have brought to light a vital question: the corruption that is rooted in the public sector. It is crucial to address these cases of corruption in Chile, where funds granted to foundations by the Ministry of SEGPRES were used inappropriately, in a scheme woven by politicians and media throughout Chile. Although it is not a new or isolated problem, this problem undermines the integrity of Chile and Latin America as a whole.

Corruption and state.

My work experience of almost a decade in the Chilean state allows me to affirm with certainty that these corrupt practices are a persistent reality, regardless of the party in power (which motivated my exit from the system). Sometimes that behavior actually comes to normalize. The current administration has shown a worrying lack of probity, although not exempt from other previous administrations. Although current problems do not differ in much of those facing previous governments, the lack of expertise in this administration may have influenced the visibility of their actions, amplified by media campaigns with political agendas.

Social responsibility.

Since my role as responsible for the Fintech and blockchain Association (FAB) and as an expert in information security, transparency and process validation, I think it is the time to take the initiative and awareness of both my acquaintances as you dear readers, about how to prevent these crimes and the corrosion of corruption on our continent.

Blockchain: The Key to a Transparent Public Sector.

The solution to this problem lies in blockchain technology, an innovation that can revolutionize the way we operate, decentralized, unchangeable and completely transparent system that enables verification of transactions, records, contracts and concessions, among others.

Preventing Corruption Acts

According to a Deloitte report, blockchain technology "offer an unchangeable, transparent and secure record of transactions, contributing to prevent corruption and promote public sector trust". In addition, a study conducted by Stanford University in 2018 shows that blockchain implementation in the public sector can reduce acts of corruption and optimize administrative efficiency.

Present opportunities and challenges.

In 2023, blockchain technology is already fully operational and can adapt in various industries(https://consultantsinblockchain. with ).

Together, we can move towards a more transparent and ethical future for Chile and our entire region.

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guillermo cid

Guillermo Cid

Guillermo Cid is an outstanding leader in the fintech industry, with experience in blockchain, cryptography and quantum algorithms. As president of the Fintech and Blockchain Association, he has promoted strategic alliances and the implementation of blockchain-based solutions. Their expertise in cryptography and quantum algorithms has strengthened data security, while their knowledge in geospatial analysis has allowed to develop innovative solutions in risk management and climate change. Guillermo is recognized as a visionary that is transforming the local technological landscape with its innovative approach and leadership capacity.

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