The first Blockchain Association opens in Mexico


The first Blockchain Association in Mexico was recently formed by seven founding members that included Bitso, BIVA, GBM, Lvna Capital, Volabit, ConsenSysand Exponential Capital. Second in Mexico Forbes Article published on November 28, 2018, organizations are keen to educate Mexican citizens about blockchain technology and to form industry safety standards.

Educating the public on Blockchain technology

The fundamental goal of the Mexican Blockchain Association is to educate the Mexican people to blockchain technology, to its many uses and benefits.

Mouses Cassab, the founder of Exponent Capital, a private equity company and a member of the Blockchain Association, said that the current uses and applications of blockchain range from reducing the cost of sending international payments to democratizing the existing financial system.

Forbes added that these use cases are possible because blockchain technology provides security and trust without the need for third party intervention such as an intermediary or quality control agent.

"This technology has the goal of creating more transparency, secure and efficient procedures," said Felipe Vallejo, a provisional president of the Blockchain Association in Mexico, in a rough English translation.

In addition to educating the public, the Mexican blockchain community's agenda is also to ensure that the community is strong standards concerning the safe and quality use of blockchain technology, especially before it becomes a popular and widespread tool. Examples of safe practices include knowledge of your client (KYC) controls and avoids the facilitation of illegal activities such as the use of technology for money laundry, or terrorism financing.

Inspired by other associations

The organizations came together and created a blockchain association, drawing inspiration from them other National Blockchain trade unions that operated in other countries. Examples included CryptoValley in Zug, Switzerland, the Korean Blockchain Association in South Korea and Congressional Congressional Caucus in the United States.

Maria Ariza, the director of BIVA, said that the association should be a place where the blockchain community can discuss important issues such as public order. Ariza added that the Association wants everyone to be able to present their ideas and opinions freely.

Although the Mexican Blockchain Association has started with seven members, it is still open to other organizations and entities wishing to join. The group is apparently receptive to new members as the organization believes that blockchain technology can be applied to all sectors.

Category: Adoption, Blockchain, development, news, regulation

Tags: adoption, association, blockchain technology, cryptocurrency, Mexico, regulations, security

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