Blockchain technology is one of the technologies that allows for the maintenance of a secure, decentralized, synchronized and distributed record of digital transactions, without the need for third parties.
The Deputy Councilor for Innovation and Entrepreneurship, Ángel Niño, announced today that the Madrid City Council has allocated more than €500,000 to blockchain technology.
Specifically, the Innovation and Entrepreneurship area chaired by wordpress web design agency Ángel Niño will have an allocation of more than €350,000 to accelerate startups specialized in Blockchain, still located in Madrid. In addition, around €180,000 will be allocated to business projects that rely on this technology and improve the lives of citizens.
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What real applications will this strategy have? From the area of innovation and entrepreneurship of the City Council, they affirm that the carbon footprint of citizens can be quantified in the blockchain, or that digital recognition models can be developed to facilitate the identification of Madrid residents. In fact, the area highlights the need to include this item in next year's accounts.
It is not in vain that they affirm that blockchain also ends up leading to the sustainability of cities, since it remains aligned with the United Nations Sustainable Development Goals scheduled for 2030. In addition, it will help position Madrid as a European leader and global city of innovation.
This initiative is part of the 2022 Budgets, whose draft was recently approved by the City Council itself. However, in Cibeles, it is still not certain whether to vote in favor. The Mayor of Madrid, José Luis Martínez-Almeida, recalled last Monday that the municipality's priority partner, Vox, had not yet made a decision on the matter, even though it had the preliminary draft and its four councilors were essential to move the accounts forward. In any case, the City Council wants to approve the budgets within a month at the latest.