Thursday, 8 June 2017

Bitcoins arrived in Latin America.

Latin America has given little to talk about in previous years about blockchain technology and Bitcoin. However, during the past year certain events occurred that demonstrate a growing interest in the cryptonnet by the Latin American region. Around the world, cryptocurrencies and blockchain technology are being adopted by a flashy number of companies, banks, government institutions and public services. On the other hand, it has been repeatedly pointed out that Latin American countries are making slow progress in the adoption of these technologies and the development of a regulatory framework.

While it is true that Latin America is at a slow pace compared to European and Asian countries, it must be recognized that during the second half of 2016, Bitcoin and blockchain technology were present at important events and conferences held in Latin American countries. Interest on the continent is accompanied by high expectations about the adoption of blockchain and Bitcoin.

The Central Bank of the Argentine Republic organized the Hackathon of Financial Innovation on November 18 and 19 of last year. In order to promote financial innovation through new technologies such as blockchain and increase financial inclusion, transformation, financing opportunities and inflation targets.

Among the winners of the event are two blockchain applications: Knowing, an application based on blockchain technology to calculate inflation in a personalized way, and Financial Passport, a document that allows quick, simple and safe access to the products of financial institutions.

That these applications have caught the attention of the event authorities shows that there is a great interest to introduce blockchain technology in some areas of Argentina's financial industry to gradually accelerate the adoption of technology and familiarize other industries with change technological.

Increasingly, the Central Bank of Argentina demonstrates more interest in encouraging new entrepreneurs to mix with the environment of blockchain technology and criptocoins, which could mean that the government of the country is clear the importance that technology will have in the future Not far away, being of great importance the fact that the government of Argentina encourages the adoption of technology in the new enterprises.

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