One of the objectives of the ALASTRIA Network is to create a “Blockchain” community, with public and private participation promoting the development of this technology in Spain. Blockchain is nothing but a wise combination of several technologies.
We are talking about an open source distributed among several volunteers (“miners”) whose mission is to reach a computational consensus that authenticates the entry incorporated into the Distributed Ledger. In short, we are talking about evidence generated by intermediation, either collaborative or decentralized. This technology allows, in addition to emulating the operation of securities, the creation of all types of records, especially those incorporating asset transfers or allocation of powers. It could also be useful for the electronic conclusion and automated execution of contracts (“Smart Contracts”), with reliability, transparency, and consensus.
One of the main objectives of ALASTRIA is the generation of mechanisms that provide identity in digital environments. This technology allows the generation of tokens that prove the identity of those transacting in closed and controlled environments, as well as the identity federation among those participating in the community.
However, these possibilities require fast and reliable protocols with sustainable business and governance models guaranteeing the safety of participants in legal relations. LOGALTY has been using these technologies for years to generate and keep evidence supporting the existence of specific transactions in the digital environment and we believe we can contribute to developing secure digital environments with our experience
ALASTRIA pursues the creation of a national Blockchain ecosystem in Spain, with the mission of providing the basic Blockchain Infrastructure “Red ALASTRIA” and the Digital Identity standard “ID ALASTRIA” that allows transactions using this protocol to have agile and easy procedures to perform secure transactions in digital environments.
To achieve this, it will not only be necessary to create a Distributed Registry. The “workflows” enabling the creation of these “chains” must meet the formal requirements established.
They must also be able to get around the objections and challenges that may arise regarding these mechanisms. For this reason, it is essential for the success of initiatives like ALASTRIA that technicians and lawyers work together.
These evidentiary mechanisms must be legally designed and all evidence obtained must be suitable for being provided and supported by jurists before a court.
In short, the advent of these technologies represents a new space for LOGALTY to add value to enterprises as a trusted third party generating evidence through intermediation contributing to the reduction of legal and operational risk.