The Ministry of Information Technology and Communications (MinTIC) has reportedly introduced a draft guidelines calling for enhanced adoption rate for blockchain and crypto from the public audience. 

Specifically, the guideline – dubbed Guide for the use and implementation of Distributed Ledger Technology (DLT/Blockchain) in the public sector, MinTIC reportedly provided details regarding the pros and cons of DLT implementation across projects associated with public establishments. 

The Ministry reportedly also mentioned the current “lagging” state across the nation, regarding blockchain adoption rate, with reference from other countries, nominally the EU, China, the United Arab Emirates, the US, and Canada. 

The organizations that helped put together the guide – including ViveLab Bogota, Universidad Nacional de Colombia, Bogotá City Hall, and the National – reportedly put up a proposal for 10 areas that can utilize blockchain and crypto – payments in crypto, land registration, voting, identity data management, supply chains, health records, business records, filing of academic degrees and management of taxes and public tenders.

The above-listed solutions reportedly looks to eliminate the presence of 3rd-party entities within the security infrastructure with the help from blockchain, consequently boosts the “confidence and transparency” in the data management.

Efforts have reportedly been invested to come up with proper regulation for the crypto scene in Columbia, but unsuccessful. Nominally, a draft bill for crypto exchange regulation locally has been published.