Blockchain Association has invited institutions to join
There was recently seven founding members of the first Blockchain Association which included companies like GBM, Lvna Capital, Bitso, ConsenSys, Exponential Capital and BIVA. This was according to the Mexican Forbes article that was published on the 28th of November 2018, as the organizations are focused on educating Mexican citizens about the benefits of the Blockchain technology. This kind of technology will be able to form great safety standards for the industry in the coming years.
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 like the many uses of blockchain and its benefits to society.
The founder of Exponent Capital, Mouses Cassab mentioned that there are private equity firms together with members of the Blockchain Association. That has said that the current applications of the Blockchain are ranging from reducing costs, sending payments cross international borders and the democratization of the current financial system.
According to Forbes these use cases were made possible because of the Blockchain technology which has 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 on the financial industry.
The Mexican Blockchain community has ensured that the community is holding strong standards concerning the safe application and quality use of Blockchain Technology, as the technology moves to become a more popular and mainstream financial asset.
The Blockchain Association in Mexico is 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 by banding together and creating a Blockchain Association by drawing inspiration from other blockchain projects that are operational in other countries. Companies like Cryptovalley in Zug, Switzerland and the Korean Blockchain Association in South Korea together with the Congressional Blockchain in the United States is moving the economy into a completely new direction.
According to BIVA’s director, Maria Ariza the Associations should be somewhere were 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.
