Mexico Now Has Its First Blockchain Association

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mexico

There is good news in the blockchain market as the first blockchain association is formed in Mexico. This is according to a news article published in the Forbes Mexico on November 28th, 2018. The founding members of this newly formed association include ConsenSys, an established blockchain software firm.

The Blockchain Association Of Mexico

The formation of this new body shows how the blockchain market has witnessed a major growth in nearly all parts of the globe. This new body will be called the Blockchain Association of Mexico. With just a few days in operation, the organization has been able to register some of the major crypto and blockchain agencies. The founding members include ConsenSys, Lvna Capital, GBM, BIVA, Volabit, Bitso, as well as Exponent Capital. The association has been formed to achieve certain things in the current blockchain market. However, the main aim is to educate the public on the deployment of blockchain technology. In addition to that, it would also educate people on blockchain’s potential applications.

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Introducing New Practices And Standards

The newly formed Blockchain Association of Mexico has various good intentions for the whole market. It plans to introduce standards and policies that would be used in the market. These are expected before the technology goes mainstream. At the moment, the Blockchain Association of Mexico is headed by a provisional president known as Felipe Vallejo. The provisional president has great hopes for the newly formed body and the blockchain technology as a whole. He stated out clearly that the technology can create more efficient, transparent, and safe procedures.

Open For New Members

Blockchain Association of Mexico is purportedly open for the new members. According to Maria Ariza, BIVA director, they plan to generate a space for public policy and discussion. The association is open for all that want to air their views and ideas. This is the only way founding members believe it would be able to grow. The adoption of the blockchain technology has been going on in various corners of the world. Both blockchain and cryptocurrency industry leaders have introduced different associations to facilitate that. They have also partnered with various regulators to come up with comprehensive policies.

So Far, So Good

On the 27th of November, ten financial and technology companies formed ADAM – the Association for Digital Asset Market. It was formed with the sole intention of creating a code of conduct for the entire cryptocurrency market. A Washington DC-based blockchain association was also formed in September 2018. This was a collaboration of several US-based crypto and blockchain firms including Coinbase. This body is mandated with representing the mainstream blockchain firms.

These are companies operating within the political setup. The main aim here is to address the issue of policy as well as the classification of the crypto in the US tax law. There was also a great news made by Banxico in September. Banxico is the Bank of Mexico based in Mexico. It had this new regulation to all the banks and crypto exchanges in Mexico. They will only operate once they have been permitted by a bank.

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