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The Colombian government signs the FEM blockchain principles to protect users

May 23, 2020

This Friday, the World Economic Forum (WEF) based in San Francisco, USA, uDocument created by the Global Blockchain Council for “Protect users and preserve technology assets that everyone can benefit from.”

The revealed document It contains 16 principles and is signed by 17 people involved in the development of the project, including the Colombian government, as shown in the table published by the FEM on its official website.

In addition to Colombia ConsenSys, Deloitte, OmiseGO and CoinShares are some of those who support the document Presentation at the end of this Friday, May 22, 2020.

The Colombian government signs the FEM blockchain principles to protect users
The Colombian government signs the FEM blockchain principles to protect users

According to the official notice from FEM, The document was developed by the institution’s Global Blockchain Council for more than a yearwith representatives of different sectors dealing with technology, as well as civil society and people with different interests in the blockchain.

The purpose of the document is to provide it Blockchain application builder a basis for the design of systems that protect the rights of the participants, as can be read in the preamble for the public disclosure of the signature of the document.

User rights are divided into four large groups: Right to information (transparency and accessibility), data protection (data protection and security), the right of people to own and manage their data (agency and interoperability), and the right of system users to understand the data. Available resources (accountability and governance).

The principles gathered in the document attempt to create a standard framework On applications built on blockchain-based systems, users can understand, among other things, how a service works, the potential risks and benefits of using it, and the system’s performance expectations.

Regarding the output of “Prison principles: core values ​​for a decentralized future “Sheila Warren, Director of Blockchain and Data Policy at the World Economic Forum, notes:

“”The blockchain ecosystem needed a foundation to design applications that preserve user rights.During our council meeting, we realized that if we can provide developers, governments, and leaders with a bill-of-rights document, we can help mitigate many of the mistakes and mistakes that have occurred so far. “

Colombia pioneer with FEM

Colombia was an active member of the FEM policy apply the roadmap of the 4th industrial revolution, in which blockchain technology is anchored.

In this sense, FEM has launched a free online event with the government of New Granada on June 12, 2020 called “Blockchain and Corruption in Acquisitions: Colombia and FEM Pilot”.

The goal is to demonstrate how the blockchain can prevent corrupt officials from stealing school lunchesas a result of previous denunciations of misappropriation of funds in the Latin American country of the state nutrition program in public schools.

The event, conducted in collaboration with the Inter-American Development Bank and the Office of the Inspector General of Colombia, will introduce Sheila Warren, Director of Blockchain, Digital Assets and Data Policy at the World Economic Forum, and Ashley Lannquist, Head of the Blockchain Project, and Digital Currency at FEM .

The aim of the online event is to examine the pilot project of the FEM and the Colombian government that is being carried out this year, including blockchain-based software for school food selection.

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