That blockchain has become one of the most potential technologies in the new digital era and Spanish entrepreneurship is contributing very outstanding projects in this field such as who has developed the startup Blocknitive.

La spin off from M> Consulting, a consulting firm specializing in technology with more than 15 years of experience, has achieved integrate technology blockchain with European data protection laws (GDPR) thanks to its Data Asentify solution.

Therefore, this tool ensures the privacy and security of information. flows between the firm and other external firms, and resolves what has hitherto been in conflict with the General Data Protection Regulation (GDPR): rights management.

In this way, the Blocknitive proposal enables data interoperability, management of the approval of any personal information or other data from the business network and the traceability of its movement both inside and outside the organization.

With Data Asentify, Blocknitive solves the challenge by bringing together two seemingly incompatible concepts –blockchain and GDPR- and enables the administration of access rights to data, rights to erasure and rights to oblivion, without compromising the security and immutability offered by new technologies.

Where technology and standards meet

“We have succeeded in finding an alternative path, making personal data kept away from blockchain. This allows us to protect them and enable security and privacy filters “, said Miguel Peco Perea, Director of Business Development.

“Surely, blockchain This is a business opportunity to add value to the goals of GDPR, to protect user data and give them power over its treatment and interoperability. The key is to find an effective platform where technology and standards can coexist, and that is Acentify,” he added.

Lower costs and shorter deadlines

However, in addition, implementing solutions to manage data consent reduces economic and reputational risks due to lack of traceability, transparency and inappropriate use of data, increase turnover by reducing technology and operating costs, improve collaboration between suppliers and loyalty to customers.

“We are making companies more agile in their processes. We are not only optimizing their information processes, making them more secure and transparent, but also we managed to reduce costs by up to 50% and time and dedication by up to 80%“.

Regarding the types of companies your digital solution is targeting, Miguel Peco Perea convinces D+I: “Technology blockchain It’s very cross-cutting, we want to focus more on use cases than on specific sectors. Our products can be used by all sizes of companies “

Blocknitive was born in 2018 as turn from M> to support digital transformation and data privacy management as a business driver.

“Enterprises will undergo a transformation in the way they organize the data they share and how they manage processes that will completely change the way they do business,” he said. Miguel ngel García Gil, partner and CEO of Blocknitive.

“In the B2B realm, there are three fundamental applications that harness the power of technology directly: digital identity, data governance, and auditing. Blockchain has come to change everything and we only see the tip of the iceberg,” he stressed in this regard.

International expansion

Today, with 16 employees, Blocknitive is in full expansion process and working from its headquarters in Madrid with a strong network of collaborators to enter new markets.

They stand out from them United States, Switzerland, Germany, France, United Kingdom or Mexico, where they have started collaborating with public entities to implement technology-based traceability solutions blockchain.

The trend is unstoppable. In fact, according to experts, blockchain postulated as one of new technologies that must accompany the innovation process what companies do in the context of digital transformation.

AMETIC confirms this in its latest report Blockchain sophistication in Spanish companies where it has advanced that investment in this technology in Spain by 2020 will reach 103.5 million dollars (92.9 million euros), with sustainable growth of 54% until 2023, the year in which it would reach 377.7 million dollars (339.2 million euros).

This upgrade will led by the financial sector in terms of investment volume, although it will be the industrial sector that will experience the largest increase.

From now on, the sector has a Spanish tool that will make it possible to accompany companies in their digitization process with total security and many benefits thanks to technology blockchain de Blocknitive.

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