Panama City, Panama - Every year, we hear groundbreaking revelations about the tech giants getting charged with privacy theft. Data storage is seen as a problem in many areas of the world as centralized service providers control personal and regional internet access. In the early 2000's, surfing the Internet was perceived as a private activity but that is not the case anymore. Today, large service providers have access to everything allowing them to find loopholes and do business activities that suit their financial interests. Blockchain is Internet 2.0, and with Decentralization we are yet to embrace the permission less age of information and communication.

Renato Rodríguez, an economist and businessman, who for the last ten years has dedicated himself to promoting and training various groups of people regarding crypto-economics and blockchain, says that decentralization is the future.

"Blockchain will return power and rights to consumers," Renato Rodríguez.

According to Renato, we can ignore the limitation of the current global lockdown and establish channels of communication with blockchain technology. A vast channel, distributed network taken care of by cryptography and controlled by no one. These decentralized channels will ensure that only the network participants (businesses and customers) will have control over their shared information–dodging the centralized intermediaries.

Renato, from Guatemala, has been pushing the blockchain agenda amid the coronavirus outbreak, claiming that blockchain could help the world and may serve as an essential tool that could help jumpstart many businesses around the world.

Decentralized Apps or DApps Are the Future

Renato points out the need for blockchain education and asks people to learn more about this technology.

"People have a wrong perception of blockchain, and they think blockchain equals cryptocurrencies. This perception is absolutely wrong as this revolutionary technology has a wide range of applications and almost any field can benefit from having such technology at its disposal."

According to him, decentralized applications, or DApps, are the future because no single entity controls these applications, and no lockdown or pandemic can disrupt the functions of these apps. With DApps consumers, businesses, and other content creators can seamlessly connect and do business without any middlemen.

The next-generation Internet service frameworks are being built thanks to blockchain technology. Revelations of government superintendence, third-party data impropriety, and new age privacy and decentralization enterprises are pushing towards a more permissionless and decentralized Internet.

Renato's Noble Initiative

The fintech expert, Renato Rodríguez, wants to help businesses to enter the new market of digital assets and take advantage of the practicality of digital economy, especially at times of economic instability. For this, he has decided to undertake and carry out a project devoted to small and medium-sized companies to strengthen the markets that have been most affected during this crisis.

In an article published here, he gave hints about his initiative and said:

"The objective is to provide a tool for companies so that they can receive payments with crypto and automatically change it to the local currency. In that moment, the income gets recorded and the necessary or required tax depending on the country is payed."

The global pandemic has united the world, and fintech leaders like Renato are joining hands to support the economy and help the vulnerable businesses.