Introduction: The Digital Transformation of the Tertiary Sector
Introduction: The Digital Transformation of the Tertiary Sector
In today's dynamic business environment, blockchain technology and Web 3 solutions are revolutionising multiple sectors, including the tertiary sector. During the recent World Token Congress 2024held at the headquarters of Foment del Treball in #Barcelona, Pachi Barrios AguilarWeb3 product manager at TelefónicaThe company is integrating these innovations to offer advanced solutions, improve security and generate new business opportunities.
The Evolution of the Web: From Consumption to Active Participation
The evolution of the web has transformed the way businesses and users interact with technology:
- Web 1.0The first was characterised by passive browsing, where users consumed information without the possibility of interaction.
- Web 2.0It introduced active participation, allowing users to generate content and communicate through platforms such as social media.
- Web 3.0It represents a decentralised ecosystem that integrates people, devices and data in a reliable and secure network, facilitating new forms of interaction and innovative business models.
This transition to Web 3.0 offers companies opportunities to redefine their operations and business models, taking advantage of the decentralisation and transparency provided by the blockchain.
Telefónica and Blockchain: Pioneers in Technological Innovation
Telefónica's Commitment to the Blockchain
With more than a century of history, Telefónica has demonstrated a constant ability to adapt and lead in technology. The adoption of blockchain and Web 3 technologies is part of its strategy to meet the growing demands for security, transparency and efficiency in the tertiary sector.
During his speech at the World Token Congress 2024, Pachi Barrios Aguilar noted that although only 7% of the world's population currently owns cryptocurrencies, their adoption is inevitable and will transform various sectors.
Telefónica's Innovative Solutions in the Web Ecosystem 3
Decentralised Infrastructure: DePIN Project
Telefónica is leading Decentralised Provider Infrastructure (DePIN) initiatives, such as its partnership with Helium in Mexico. This project allows users to share their Internet connection through devices called hotspots, receiving rewards in the form of HNT tokens.
Benefits of the DePIN Project:
- Reduction of operating costsThe use of hotspots reduces the need for expensive traditional infrastructure.
- Expanding connectivityImproves coverage in areas with limited infrastructure.
- Community participationInvolves users in the expansion of the network, generating shared value.
Digital Identity Management: Open Gateway Project
In today's digital environment, users' identities are often fragmented across multiple services. Telefónica addresses this challenge by developing solutions that enable decentralised digital identities, giving users greater control over their data. The Open Gateway Project facilitates the linking of phone numbers to public blockchain addresses, simplifying the use of wallets and improving transaction security.
Blockchain-based economies: M Tokens
Telefónica has implemented blockchain-based loyalty programs such as M Tokensused by Movistar customers. This solution improves scalability and eliminates intermediaries, allowing users to manage and redeem their points more efficiently.
Advantages of Blockchain-based Loyalty Programmes:
- Greater transparencyUsers can check their transactions and balances in real time.
- Cost reductionBy eliminating intermediaries, resources are optimised and efficiency is increased.
- Improved loyalty: Offers customers a more engaging and personalised experience.
Digital Assets and NFTs: Safe Marketplace
Telefónica has developed a secure marketplace for Non-Fungible Tokens (NFTs)The platform allows creators to authenticate their digital assets and users to interact with them in a protected environment. This platform incorporates functionalities such as token gatingwhich adds additional value to NFTs and offers new business opportunities in the digital sphere.
Telefónica's New Wallet: Simplifying Digital Finance
In line with its commitment to innovation, Telefónica has launched a cryptocurrency wallet designed to be intuitive and secure, even for users with little experience in the world of cryptocurrencies. This tool allows transactions in euros, bitcoin, ethereum, among others, facilitating payments and collections in a simple way.
Wallet Highlights:
- User-friendly interface: Facilitates navigation and use for all users.
- Multi-currency supportIt allows the management of various cryptocurrencies and fiat currencies.
- Integration with telephone numbersSimplifies transactions by linking them to telephone contacts.
- Low commissionsIt offers competitive tariffs, encouraging take-up.
Impact on Emerging Markets:
This solution is especially beneficial in regions where money transfers are costly and complicated. Telefónica's wallet allows funds to be sent and received quickly and cheaply, promoting financial inclusion and facilitating access to digital services.
Conclusion: A Promising Present and Future with Blockchain
Telefónica's participation in the World Token Congress 2024 demonstrates its leadership in the adoption of blockchain and Web 3 technologies in the tertiary sector. Through initiatives such as decentralised infrastructure, digital identity management, blockchain-based loyalty programmes, and the development of a wallet, Telefónica will be able to offer its customers a wide range of services and services in the tertiary sector.