Mexico Initiates Country’s First Blockchain Association

With blockchain expansions continuing all over the world, Mexico has launched the country’s first ever blockchain institution, Blockchain Association Mexico, with the help and support of several companies. Blockchain Association Mexico is a combined effort of Lvna Capital, Bitso, Volabit, GBM, ConsenSys, BIVA and Exponent Capital. The collaboration of these companies aims to ensure that citizens of the country are able to learn and get familiar with the blockchain technology.

Brendan Pike Forster, the head of Growth Ops at Dharma Labs, who was also the former corporate strategy analyst at Microsoft, talked to BlockPublisher about the blockchain technology. Upon inquiring if the blockchain technology was revolutionary, he shared his views about the technology in short and long run. He said:

In the short term I think blockchain will feel evolutionary (not all that different from Venmo / Paypal / Square cash, etc.). In the long run, yes. I think blockchains are revolutionary.

The Blockchain Association Mexico intends to lay some standards and rules prior to blockchain getting massive popularity throughout the country. By setting standards and rules, the aim is to regulate safe and quality use of technology. Moreover, the establishment of standards is looked forward to prevent bad practices, such as money laundering, that can be maneuvered with the help of blockchain.

According to the founder of Exponential Capitol, Mouses Cassab, blockchain can make international payments very cost efficient and influence the financial system by democratizing it. At the moment, only seven members are actively participating in the formation of the Blockchain Association, however, more members are open to join the existing ones. The director of BIVA, Maria Ariza welcomes the formation of the Blockchain Association. She said that with the blockchain institution, everyone can have a say in the discussion and policy for presenting his idea.

Mexico is not the first country to open a blockchain institution. In the past, blockchain institutions were opened in many countries like Congressional Blockchain Caucus in U.S and Crypto Valley in Switzerland and e-Estonia. With the increasing use of blockchain technology, it can be realized that blockchain institutions become necessary for countries who look forward to adopt blockchain.

Fatir Malik

Electrical engineer by profession, turned into blockchain developer. Fatir contributes regularly with his insights about latest developments in fintech sector. Contact the editor at editor.opinions@blockpublisher.com

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