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“The sectors that are most interested in blockchain are the finance, legal, logistics and food sectors.”

May 4, 2020

Cointelegraph in Spanish spoke with Miguel Ángel Pérez García, CEO and co-founder of iCommunity Labs, who spoke from Spain, among other things about the potential of blockchain technology and the industries that work with it. Miguel Ángel Pérez Garcia is a computer engineer and has a PhD in telecommunications technology. In addition, he is dedicated to digital transformation and applied blockchain technology. He is also a member of the EU Blockchain Observatory Forum and the European Blockchain Foundation.

Fernando Quirós (FQ): How did you get into the world of blockchain technology?

Miguel Ángel Pérez García (MAPG): After working in the corporate sector for more than 20 years and managing ICT programs for the Ministry of Defense and NATO, I didn’t feel fully realized and had to “do something more” where I could bring in all the knowledge and experience I had acquired. When you leave your comfort zone, real things happen and you can achieve really important successes. He had closely followed all the advances in technology and its most famous use case, Bitcoin, for several years, and knew that there was a great opportunity to do something really disruptive while adopting a paradigm shift for the corporate sector. This concern prompted me to participate in various technology forums, and in one of them I was able to meet very powerful people from different sectors who were all enthusiastic about this technology. Some of these people are my current friends and that’s where iCommunity Labs started.

“The sectors that are most interested in blockchain are the finance, legal, logistics and food sectors.”“The sectors that are most interested in blockchain are the finance, legal, logistics and food sectors.”

FQ: How can blockchain technology empower SMEs in the face of the Covid 19 crisis in Spain?

MAPG: Blockchain inherently has the ability to offer valuable solutions in unprecedented situations like the one we are experiencing. For example, it is a great tool to improve the efficiency of the logistics processes of companies whose operations have been affected, especially those that have experienced a high level of fraud and counterfeiting, such as: B. in healthcare.

In general, cutting costs is currently a priority for most companies, and blockchain can help them: optimize their business processes, eliminate intermediaries in transactions, and ensure transparency with their business partners. All of this is easy to apply in terms of commercial bureaucracy: signing agreements, contracts, packages, etc. Another important point is high availability and security, as blockchain data is accurate, secure and easily accessible and the availability of all types of records facilitate.

But let’s not forget that this also benefits people in this crisis. We cannot forget the situations of “disinformation” that occurred due to the “wrong news”. Or to buy non-certified material or directly counterfeit. A big ally could and could be in this blockchain.

FQ: Which industries are most interested in this technology?

MAPG: Blockchain is a horizontal technology because it can be applied to numerous sectors. From our experience, however, we can say that the most interested sectors and especially the areas in which real application projects are currently being developed are: finance, law, logistics and food.

CF Do you think blockchain is a fad or does it solve problems?

MAPG: When people ask me that, I always put the analogy to the Internet case. In the mid and late 90s, it was just a fad for some geeks who were fascinated by new technologies. Then we all know what happened. I believe the path of blockchain technology will be similar, and in the medium term we will consider it an essential tool to make many of the current processes more efficient and secure.

FQ: How does iCommunity Labs work with blockchain technology?

MAPG: iCommunity Labs offers companies solutions based on blockchain technology. Our immediate goal is to enable the digital transformation easily and inexpensively to solve your main problems while optimizing and automating your processes. We offer software solutions for companies (B2B, B2B2C) as part of a pay-as-you-go marketing model. Our solutions are cross-sectoral, but focus primarily on the areas of finance, law, insurance, retail / sales, logistics and public administration.

We currently have products (use cases) with the following focus:

  • Automate and secure the traceability of the supply chain (iBS-Logistic)

  • Academic certification (iBS attendance).

  • Registration and certified time control of employees, subcontractors, consultants etc. (iBS time tracking)

However, our medium-term goal is more ambitious: We want to expand and improve our “iCommunity Blockchain Solutions” (iBS) platform so that every company can easily and economically create their own blockchain use cases without having to bear the costs of developing a blockchain -Ad hoc and scratch solution. Something that the vast majority of companies cannot afford and that largely prevents the actual launch of this technology.

CF Why did you focus on this type of technology?

MAPG: Because we are certain that this technology will be a powerful tool for disruptions and transformations for all types of companies in the coming years, but also for people. Now almost everyone knows it for the famous cryptocurrencies, but they are just a very specific use case, the tip of the iceberg. We know from our experience and knowledge that there is a great opportunity to do something really innovative that adds value and solves some of the most important problems for businesses and people today.

For several months we have been carrying out various studies to check the profitability, the maturity of the technology, the time to market and other aspects that have helped us to “separate the chaff from the grain” and to define the business model that best scales can. All this has made it very clear to us that there is a need and at the same time a market opportunity with regard to the implementation of blockchain in companies (especially in SMEs) as well as among their customers and users.

CF: What are your expectations for this year?

MAPG: Most of the blockchain initiatives for companies mentioned in 2019 were successful, ranging from mere proofs of concept and pilot projects to many of them making the leap into production. According to research by InsideBitcoins.com, around 38% of companies plan to introduce blockchain-based solutions in 2020. Of these, 15% will introduce blockchain solutions on a large scale and another 23% will introduce solutions with more moderate dimensions. Therefore, we can say that 2020 will be the most exciting year for the corporate blockchain as we have seen its introduction to solving real business problems grow.

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  • Bitcoin, Ripple, Ethereum, Stellar, EOS, Litecoin, Cardano, Monero, TRON, Dash: Price analysis, November 23 (2018)
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