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Technology 23 May 2017

The blockchain generation

Blockchain has become a global phenomenon, capable of attracting capital and talent from around the world. Some countries, such as the United Kingdom, the United States, China, Japan and Singapore are in the vanguard of research into this new technology, promoting the creation of national associations where large companies, recently-created startups, regulators and governments can become involved and collaborate on the design of hybrid public and private blockchains. The reason these countries are positioned to participate in the blockchain ecosystem in a structured way is perhaps because they see that the Information Internet was just the first wave, the one that permitted the profound transformation of some industries such as telecommunications, tourism or news media. Today we are witnessing the next evolutionary wave, the Internet of Value. Supported by blockchain, it could be the tool that generates the second wave of industrial transformation of many sectors and perhaps, in a more definitive form.

BBVA has been one of the Spanish companies most committed to developing knowledge and solutions related to blockchain technology. However, if we all want to position Spain as one of the leading countries in research, and benefit from the possibilities of reinventing the world as we know it, we have to create a “Spanish Blockchain Generation,” by following the example of the abovementioned countries.

For that reason, it´s important to create a sandbox – an environment for regulatory experimentation such as the United Kingdom has, to maintain its leadership in the financial sector – or provide facilities, as Switzerland does, to give legal certainty to entrepreneurs who want to create services in a decentralized economy.  The sooner we begin these efforts and combine our strengths at a national level, the more possibilities we will have to participate in and lead this change. Spain has the talent and the capital to achieve this.

A unique opportunity

It´s only a matter of creating a collective will at all levels, in an organized fashion, in order to generate synergies among all the actors involved. It´s a unique opportunity to participate in the Internet of Value and position ourselves, because it depends on us alone that the next Google or Facebook be a Spanish company.

The book entitled Blockchain: the Industrial Revolution of the Internet, published by Ediciones Gestión 2000 (Grupo Planeta) brings together the work of 30 authors seeking to drive the creation of Blockchain Generation Spain. Our hope is that this work may become a reference guide for the Spanish blockchain ecosystem and motivate us to participate in this opportunity that has been granted to us. Change always produces a bit of dizziness, but knowing beforehand what the change is going to be and how it will affect us, is the best way to define the future –  instead of waiting for the change to be imposed upon us by other innovation hubs. If we were able to overcome the natural fear that any human being feels towards change, and participate in innovation from the start, we will be part of that world that defines the future.


ALEX PREUKSCHAT

The BBVA Innovation Center tomorrow hosts the presentation of Blockchain: La revolución industrial de Internet (Blockchain: the Industrial Revolution of the Internet), published by Ediciones Gestión 2000 (Grupo Planeta). BBVA has collaborated in both the content and sponsorship of the book.  In this article, the book´s coordinating author, Alex Preukschat, calls upon Spain to take a leading position in this second great wave of Internet, the Internet of Value. Supported by blockchain, it has the potential to definitively transform all sectors.

Alex Preukschat currently works as Blockchain consultant. He is also the author of the first graphic novel about Bitcoin (BitcoinComic.org) and the creator of MoneyFunGames.com, a website for the publication of mobile video games about cryptocurrencies and money.

Linkedin: Alex Preukschat

Twitter: @AlexPreukschat

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