Wednesday, September 28

Telefónica Tech: Through blockchain we can guarantee the confidentiality of the complainant

For those of you who don’t know yet, what is blockchain technology and how does it work?

Blockchain technology allows us to create ecosystems where information can be exchanged with greater confidence than it would be done in other types of networks or communication systems.

Normally, when we talk about blockchain, we talk about company networks, which are the ones that want to add additional confidence to the information they exchange. When two companies already have a business relationship, they are exchanging invoices, estimated delivery dates, materials … all this already requires a relationship of trust and with blockchain it allows us to add digital evidence of what happens in that exchange of information or goods and products .

What is the purpose of applying the blockchain?

By applying blockchain we allow to simplify all the verification processes that may exist without the intervention of third parties, that is, if before we needed a trusted third party to attest that a merchandise has been delivered or that a contract has been signed, the technology itself It allows to directly ensure this exchange of information in a reliable way for the different parties and without the intervention of that third figure, which could be, for example, a notary, who now has a technology that allows it to make this task much easier.

What is Telefónica Tech’s solution for the application of blockchain in document certification?

At Telefonica Tech we try to democratize and universalize access to this technology. To this day, it is still thought that blockchain is only accessible to large companies or multinational consortiums, we think that we are capable of simplifying access to technology and integrating it into the business processes of an SME or a family company or a multinational company. It should be exactly the same complex and that both could benefit from that extra confidence that technology gives.

With the certification solution that we have launched, we allow to certify a document, which can be an image, a contract, a memorandum or any type of file that we have on our PC, it is as easy as attaching it in an email and indicating it with a sign so that it is registered in the blockchain and thus certify to whom we are sending that email or from whom that document has originated, as well as the content of said document so that no one can doubt its integrity.

And in supply chain management?

When we talk about blockchain we are talking about company networks that change information. The paradigm of this type of scenario is the supply chain where, especially in this increasingly complex environment, supply chains integrate hundreds of participants with a geographic dispersion and even in different sectors that interact with each other adding greater complexity. to this type of chains.

Supply chains are no longer owned by a company, all suppliers, customers and even auditors or regulators participate in an almost collegial way. Precisely for this reason, blockchain is a book case that can be applied to how information can influence that trust ecosystem that is created between all these participants in a secure way and how each company can make decisions to optimize the link in the chain that They are controlling what happens in their warehouse or in their logistics chain based on information, for example, of stock breakages in a first level supplier that does not have visibility the closer we get to the customer.

For this secure information exchange that allows us all to make those decisions, what Telefónica Tech has done is to create a solution that, on the one hand, we are implementing ourselves in our operations to have those benefits and that we make available to our clients so that, instead of developing from scratch, they are able to take advantage of these benefits almost immediately.

What is the use of blockchain for the traceability of complaints made through the channel now required by the European directive for private companies with more than 50 workers for public companies?

A few weeks ago the European directive for the protection of the whistleblower came into force and we have realized that it is a use case where those digital evidences that we can register with blockchain make perfect sense. In this case, what the directive requires of all companies with more than 50 employees and almost all public entities is to have a complaints channel where employees or any of the affected groups or in relation to the company can express or report these incidents or infractions of the ethical codes of the company or of the legislation itself.

With blockchain what you do is make it immutable and that anyone can verify the status of information, in this case, the complaints. What we do is that no one can doubt that the complaint, which an employee can make anonymously, can be hidden or falsified so as not to treat it properly.

On the other hand, as in the public blockchain or bitcoin networks, we all know and have full guarantees of the transactions between two bitcoin accounts and what is the balance of each bitcoin account without knowing the real identity that is behind that bitcoin account, with those same cryptographic principles we can guarantee the confidentiality of the complainant without the company having access to that information.

Thanks to the blockchain, many more guarantees could be given for the resolution of problems such as complaints from the criminal point of view, but also harassment, corruption, embezzlement or any suspicion that there is within the dynamics of the company of having breached that ethical code, and even environmental crime issues.

Reference-www.estrategiasdeinversion.com

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