Developements

New Blockchain association opens up in Mexico

Blockchain Association has invited institutions to join

Recently, a new blockchain association opened up in Mexico comprising of seven founding members among which are companies like GBM, Lvna Capital, Bitso, ConsenSys, Exponential Capital and BIVA. According to a Mexican Forbes article published on the 28th of November 2018, the organization is focused on educating Mexican citizens about the benefits of the Blockchain technology.

Educating the public about the Blockchain Technology is extremely important and is of high priority. According to the Mexican Blockchain Association, there are a few fundamental goals that the company wants to achieve. This includes aspects such as the many uses of blockchain and its benefits to society.

The founder of Exponent Capital, Mouses Cassab also mentioned that a host of private equity firms together with members of the Blockchain Association acknowledge that the current applications of the Blockchain range from reducing costs, sending payments cross international borders and the democratization of the current financial system.

According to Forbes, these use cases are made possible thanks to the Blockchain technology which have provided the confidence and trust that companies, organizations and individuals alike need without the intervention of a third party like control agencies and intermediaries.

Felipe Vallejo, the provisional president of the Blockchain Association said that this technology has the objective of creating more transparency, safety, and more efficient procedures than what is currently being used in the financial industry.

blockchain in mexico

The Mexican Blockchain community has ensured that the community holds strong standards concerning the safe application and quality use of the Blockchain Technology, as it moves to become a more popular and mainstream financial asset.

The Blockchain Association in Mexico is also focused on undergoing Know Your Customer(KYC) checks while avoiding the facilitation of illegal activities, like avoiding money laundering or other illicit activities like terrorism financing.

The Blockchain has inspired the Association

The organization started creating a Blockchain Association by drawing inspiration from other blockchain projects that are operational in other countries. Organizations like Cryptovalley in Zug, Switzerland and the Korean Blockchain Association in South Korea together with the Congressional Blockchain in the United States are moving the economy into a completely new direction.

blockchain in Mexico

According to BIVA’s director, Maria Ariza the Associations should be located in a place where the Blockchain Community can share ideas and discuss the important issues surrounding public policies. Maria wants to see the Association present their ideas and opinions about the issues that need to be solved freely.

The Mexican Blockchain Association started with only seven members and is now open to other organizations and entities that are willing to join this revolution in the global financial system. The group is open to new coming members as the organization sees the Blockchain technology being applied in all industries worldwide.

What do you think of the developing companies in the space? Please feel free to leave your comments down below.

coinmag

My occupation is the Research of blockchains and their practical applications in the economy. I have graduated through various levels of education, including electrical technique, Business, Psychology, and innovative technologies.

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