• Albany Flores

DelNorte TerraVision brings Blockchain technology to Central America

Updated: Apr 12

The emergence and expansion of social networks, the emergence of smart devices and the need for governments to improve their information systems have enabled a network of communications and digital connectivity unprecedented in human history.

Thanks to the accelerated advancement of computer science, computer engineering and programming, the concepts of artificial intelligence, decentralized systems, non fungible tokens (NTF), cryptocurrencies and metaverse, are becoming more and more common in 21st century societies.

For decades, authors such as Alessandro Baricco (The Game, 1994) predicted that the rapid evolution of cutting-edge technologies would connect the planet as never before, and that this would create an era of interconnectivity that would drastically transform our ways of relating to and understanding the world

By the end of 2021, it was estimated that at least 4.2 billion people around the world (just over half of the world's population) had internet connectivity, particularly in countries with competitive financial markets.

Until now, this global connectivity has been directly linked to the servers of large IT corporations that own and centralize information and data services, mainly benefiting industry and traditional markets.

That reality, however, may change in the immediate future with the implementation and acceptance of technologies such as Blockchain, a decentralized system that is accelerating the relationship of physical objects with the Internet (Internet of Things), digitizing the physical world and giving it a digital monetary value.

Therefore, the arrival of the DelNorte TerraVision (DTV) technology to Central America means the beginning of a massive tokenization of objects and goods, but also the beginning of a new era for the economies of the region, as stated by the former Prime Minister of the Republic of Haiti, Laurent Lamothe (2012-2014).

During his intervention via Google Meet at the launching ceremony of the DTV platform in El Salvador, Lamothe expressed that it means a technological breakthrough for Central America, as well as a unique precedent in the world:

"El Salvador becomes the mecca of bitcoin and a pioneer of the economic platforms of the 21st century".

Founded in 2019 in the United States and with a presence in Miami, Honduras, El Salvador and Ukraine, DTV is a digital services platform that offers real estate title management using NFT, a unique digital asset that cannot be copied or cloned.

In the words of Anton Glotser, CEO of the company, DTV "is the only company in the world that develops products for the management of real estate titles with blockchain technology, generating security for investment, transaction, administration, tracking and securing legal ownership of properties."

With its first incursion in El Salvador - from an agreement with the Municipality of San Bartolomé Perulapía to digitize all the local real estate records - the company will invest US$5,000,000 million, thus contributing to land management, technological education, the dynamization of the economy, the flow of investments and the reduction of the digital divide that affects Central American countries.

These tasks will be of great importance for the isthmus, especially if we think about the words of the Hebrew historian Yuval Noah Harari, who, during his conversation in 2019 with the founder of the Metaverse, Mark Zuckerberg, warned that countries like Honduras could be relegated from the digital economy, given that the economic inequality that is causing the technological gap will not allow them to compete in the markets of the future.

Central American governments have yet to overcome the first major task to enter and survive in digital markets: preparing their education systems, starting with providing every student with an internet-connected device.

If this problem is not addressed now, the consequences could be devastating, because without skilled labor for digital professions and trades, their markets will be suffocated by technological economies.

For example, in the coming decades there will be plenty of jobs for software engineers, but perhaps not for textile workers or truck drivers from Central America and Mexico," Harari continues. "So what will they do?" the author asks.

The answer to that question seems to lie in initiatives such as DTV, whose blockchain technology platform will not be limited to the tokenization of movable and immovable assets, but will also support technological education for the digital development of communities. After the Government of El Salvador, through its president, Nayib Bukele, announced the legalization of bitcoin as legal tender in September 2021, many of the problems of its implementation have been rooted in the lack of knowledge of the technology in a country where only 33% of the population has access to the Internet.

To contribute to this educational gap, DTV Board Chairman Jud Ireland used his speech in San Salvador to announce a $30,000 donation to Exponential Destiny, a California-based nonprofit foundation that leverages emerging technologies to empower entrepreneurial skills in public schools and organizations serving underserved communities.

Through the launch of its Global Metaverse Award - a competition that seeks to train and discover the next generation of Latin Americans who will lead the world through new technologies - Salvadorans will be able to access the foundation's mentoring.

The selected students will be trained in disciplines related to robotics, artificial intelligence, augmented reality, the creation of digital sites, the use of blockchain technology, among others.

For now, DTV already has operations in Honduras and El Salvador -where it seeks to sign agreements with the governments-, but is working on its expansion to other countries in Central and South America.

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