Large Spanish companies build blockchain consortium – Alastria

Tuesday 17 October 2017 14:31 CET | News

The main Spanish banking, energy and telecommunications companies have joined forces to establish Alastria, the world`s first regulated national network based on blockchain.

This non-profit consortium will develop Distributed Ledger Technology (DTL), which is set to become the new data exchange ecosystem and will accelerate the digital transformation of different industrial and business sectors in the coming years in Spain. Since its very creation, the consortium has been made up of about 70 of the largest companies and institutions in different sectors.

Among its founders are notaries and lawyers who will ensure the security and veracity of information through the identification of natural and legal persons. The digital ID will be the main focus of Alastria in its beginnings through the standard of Digital Identity “ID Alastria”, which will allow citizens to have control over their personal information in a transparent way following the guidelines set by the European Union.

The Alastria network will provide a shared platform on which the various participants, and in particular large companies, will be able to create digital representations of the assets with which they work in their usual economic activity, also known as “tokens”. With these “tokens” it is possible to develop new products and innovative services, in addition to being able to develop current processes faster, safer and more efficiently.

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Keywords: Alastria, blockchain, DLT, Spain, banking, energy, telecommunications, tokens, digital ID
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: World
This article is part of category

Blockchain & Cryptocurrencies