Hello! I need help writing a reading report on the followin

Hello! I need help writing a reading report on the following text,… Hello! I need help writing a reading report on the following text, explaining the important concepts and mentioning the most important quotes mentioned Blockchain economic applications: Companies can take advantage of blockchain in various ways to gain an advantage over their competitors. They can streamline your core business, reduce transaction costs, and make IP and payments more transparent and automated (Xu et al., 2019). Such a position is taken by (Lewis et al., 2017) who points out that Blockchain has the potential to provide large efficiency gains in companies that currently require expensive intermediation, including financial services. And while much work remains to be done, blockchain represents a promising source of future innovation in financial markets. In international trade, for example, China was the leading country with 1,353 inventions corresponding to 40%, followed by the United States, with 27% and Japan with 5% participation. For its part, Latin America, as an emerging region in the development of this type of technology, presents only 1% of the global production of patents (Olivero et al., 2020).The search for new socio-technological solutions that want to give a more adequate response to the new social paradigm, marked by constant innovation and technological evolution, has also been found in the literature. Faced with the traditional systems of the State and private entities, characterized by the primacy of capital, the Social Economy emerges as a mechanism to satisfy human needs. A socioeconomic system determined by a set of activities carried out by entities, to improve the situation of society independently of public authorities (Gallego & Palomo, 2020). Linked to this new social panorama, technologically there was a revolution from the internet of information to the new internet of value or blockchain. A new technology capable of solving current problems based on the decentralization of government authorities in favor of greater trust and social autonomy.To the extent that the technological structure of the blockchain is made up of a democratically participatory system, committed to the environment and society and uses public, open, anonymous or pseudo-anonymous databases, as well as PoS work systems, they will be aligned in the achievement of the pillars of the Social Economy. Some other implications of Blockchain with finances according to (Gallego & Palomo, 2020) are:• The use of cryptocurrencies, cryptocurrencies, cryptoactives, or tokens that allow greater global participation for excluded groups. This is also supported (Chen, 2018) who explains that blockchain tokens can democratize entrepreneurship by giving entrepreneurs new ways to raise funds and engage stakeholders, and innovation by giving innovators a new way to develop, implement and spread decentralized applications• The use of blockchain technology for an immutable and unalterable tracking system. This system improves financing systems based on crowdfunding or micro-contributions.• The use of Smart contracts that allows costs to be reduced by avoiding the use of intermediate agents, speeding up procedures and providing greater security against possible human errors.According to (Olivero et al., 2020), Blockchain technology intends to continue to have an impact in the coming years, seeking to make its use massive, but not only in the financial sector, but also in other sectors. For example, in data protection, the health sector and the state, among others. This technology could change the lifestyle of society, from the point of view of promoting innovation, security in computer systems and data processing, supply chains, etc.Legal and Public Management Innovations: (Blemus, 2018) exposes a document that collects the latest main regulatory projects and the consultations of the entire industry in the United States, in the European Union (EU) and in the main economic countries where Blockchain regulations have been discussed as a proposal and adoption. In just a few years, Blockchain has become a hot topic for public decision makers around the world. Since this disruptive and decentralized technology has become a key business problem for startups and market participants. In this sense, the author explains that both central banks and financial regulators have changed, especially in the US and the EU, from a strong initial hostility to a more cautious and cautious position favorable to the market. (Legerén, 2019) also reasons this trend but in Europe and maintains that, although there are many projects that try to use the blockchain, there will not be so many that finally crystallize and consolidate. This is due, among other reasons, to the fact that the result to be produced will have to -eliminating “unnecessary intermediaries”- satisfy existing needs with the same degree of safety and at a lower cost; requirements not easy to meet. In this sense, it does seem that it has such characteristics and establishes the use of blockchain as a platform for making payments -using smart contracts for this purpose-; aspect that -whether recognized or not in the futureto cryptocurrencies as legal money and not only as a means of payment – ??will improve as soon as the volatility of those is tempered, propitiated, to a large extent, by the activity speculativeBe that as it may, in any case, it is indicated that the chains of blocks do not replace neither the notarial function nor the Records of Rights, as they are conceived in Europe. None of them constitutes an “unnecessary” intermediary. In effect, both add value with the legal control and legality that they carry out with respect to the transaction that is intended to be carried out, with the analysis of the capacity or consent of the parties, or, finally, because they provide the recognition by the Status of the ownership of the registered rights, generating confidence in the economic operators.  Arts & Humanities English Literature WRCI-UF 101

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