Alejandro Narancio is a technology expert with more than 15 years of experience in the software industry, CEO of Infuy and in charge of offering various solutions through the blockchain.
Why did you start working with blockchain and how long have you been working with it?
I personally became interested in the technology when I read Satoshi's paper for the first time, back in 2013, from then on I always followed it closely and started to develop on the Bitcoin blockchain.
About 2 years ago the general interest in blockchain started to grow and we decided as a company to start including it in our services.
What is your blockchain-based project, what stage is it in and what are the plans for the future?
We have done several projects and we have many others in progress. Some verticals or business cases we have done:
- Usage-based insurance on blockchain
- Several pilots in the insurance area
- Design and support in the development of blockchain projects.
- Health
- Identity
- Among others
Our company has strong roots in consulting and professional services oriented to development. Therefore, we are going to continue in this line because we are very good in this area.
Personally, I have the illusion that Uruguay can become a crypto/blockchain hub for the region, so we are devoting a lot of energy to try to achieve it.
In which cases would you recommend companies to use this decentralized technology?
I think that nowadays there is a tendency to want to do almost everything with blockchain. Blockchain is the best (or one of the best) existing technologies to solve certain types of problems. For the rest of the problems it is more convenient and cheaper to use more centralized technologies.
There are many use cases in which blockchain applies, but in a generic way, I think that for it to apply there should be a need to intercommunicate actors or autonomous and independent entities to reach agreements. Blockchain allows us to establish reliable agreements between parties without the need for a centralizing entity.
How far are we from mass adoption of this technology?
In 2017 the interest in blockchain (and Bitcoin in particular) increased considerably, however I think we are still at a very early stage and there is still a long way to go.
2017 was dominated by ICOs and proof-of-concepts or pilots that allowed companies to understand how they could benefit from this technology. This year there are already more "complex" projects; so, again, I think we are at a very early stage and there is a long way to go.
What are the main areas of interest for companies looking into blockchain?
There's a bit of everything. Quite a bit about health, identity, proof of existence of documents, ICOs, fintech, and a long etc.
What are the main difficulties when developing blockchain technology and how costly is it for the company requesting it?
The first step is to validate the idea or system and evaluate how blockchain applies in order to determine if the use of this technology really adds or subtracts. Often, one of the most complex aspects is explaining to the client why you would not recommend using blockchain for their solution.
On costs it depends a lot on the type of project.
Infuy
With more than a decade of experience, Infuy is an Uruguayan IT company born in 2007, which offers cloud computing, cognitive computing and blockchain services, solving multiple problems of its customers through the use of many different technologies (Ethereum, HyperLedger, Oracle, Java, Solr, iOS and Android apps, chat bots, among many others).
Pioneer in the development of blockchain projects, at the end of 2017 Infuy spun-off its company creating Zircon Tech, where they develop and provide consultancy in blockchain technology, Smart Contracts and Big data.
Infuy has worked for the healthcare, entertainment or automotive industries, being responsible - for example - for improving the online version of El Gallito, developing the online ticketing service of Life Cinema or the Cutsca app for users to identify the location of the bus in real time.
Source: Cryptocurrency
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