Big banks, consulting and telecommunications have founded this consortium that will promote one of the technologies called to become one of the “pillars of digital transformation.”

Build a semi-public blockchain infrastructure on which to innovate and accelerate the creation of common digital ecosystems. That is the goal of Alastria, the Spanish network that is based on this technology and which was born today by more than 70 companies , including the main financial institutions and tele-operators in the country. Blockchain is basically a kind of distributed database that allows to verify and approve the transaction of different assets through a “transparent, safe and efficient” registry , according to Julio Faura, president of Alastria. It is also the underlying technology that has made possible the appearance of bitcoin. Everything indicates that it will be the disruptive force that most influences the changes of business model in recent years . “It can become a pillar of the country’s digitization,” said Faura.

The consortium, which has been presented simultaneously in Madrid, Bilbao, Valencia, Barcelona and Malaga , will develop blockchain with the aim of promoting a new paradigm called to become the new ecosystem of data exchange, where participants can create so-called tokens , which are the digital representations of the assets with which they work. It is about creating a shared ledger (‘ledger’) for all organizations that promotes a cheaper, interactive and secure exchange system. However, Faura confirmed, blockchain is not yet prepared to replace current computer infrastructures. “Although the new network is already ready for use by both companies and public administrations. We will not make a speculative use of this technology. ”

Alastria has been founded with the possibility of joining more companies, whether startups, SMEs, large corporations, universities or other actors. In fact, Alex Puig , CEO of the platform, believes that most SMEs could take their accounting through blockchain within a framework of two or three years.

The network promises several of the adjectives that business is constantly looking for in the framework of digital transformation as security, trust, efficiency or agility. What’s more, another of its great strengths is that it is a trustless science , that is, it does not depend on third parties to be authenticated.

In any case, from the organization say that blockchain is still in an experimental phase in which there is still a long way to go in different aspects, as is the case of regulation, necessary, “even above the technology itself.”

Among the companies that are part of Alastria are companies such as Accenture, Iberdrola, Bankia, BBVA, Banco Santander , Telefónica and universities such as the University of Málaga, Girona and San Pablo-CEU.