Telefónica will develop a blockchain-based network for 8 thousand companies in Spain

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Telefónica desarrollará red basada en una blockchain para 8 mil empresas en España
The Association of Science and Technology Parks of Spain (APTE) closed an agreement with Telefónica for the creation of a new consortium for development of solutions based on a blockchain. The initiative will be constituted by the telecommunications multinational, as well as 64 technology parks and some 8,157 Spanish companies.

The institution agreed at its third annual meeting, held last week, that Telefónica will develop a network based on a blockchain for the associated technology parks. The objective of APTE is to improve the operation of its infrastructure and the services offered to companies. The project will have an experimental phase of three months where possible use cases will be investigated.

The initiative was born thanks to the creation of a working group to meet the goals of the United Nations Sustainable Development Goals (SDGs). Thus, the APTE authorities agreed to carry out the short-term objectives of the SDG for the economic development of Spain and the eradication of poverty.

This new project could become one of the largest specialized consortiums in Spain to provide records with a blockchain, displacing even the Alastria project. The 64 technology parks that make up APTE today groups a total of 8,157 companies, with a turnover of 28,984 million euros per year. This figure far exceeds the 500 partners that Alastria has today, with its two years in operation.


It is not the first time that the multinational Telefónica is involved in the development of blockchains technologies. A few days ago, the company announced the launch of a support program for those companies interested in implementing a blockchain in their services. He also organized a crypto business accelerator specialized in smart contracts, gaming and virtual reality last February.