Blockchain Association of Mexico: Paving the Way for Digital Future

Breaking Ground in Blockchain

In a remarkable move, Mexico has officially established its first Blockchain Association, comprising key players from the industry, including the well-known blockchain software firm ConsenSys. Reported on November 28, this coalition is set to transform the digital landscape of the nation.

Who’s Who in the Association

The founding members of the Blockchain Association of Mexico include prominent names like Bitso, Volabit, BIVA, GBM, Lvna Capital, ConsenSys, and Exponent Capital. Together, these organizations aim to enhance public understanding of blockchain technology and its vast array of potential applications.

Goals Galore: Education and Standards

The association has a clear mission: to educate citizens about blockchain and its implications. As Felipe Vallejo, the provisional president, eloquently stated, “[blockchain] technology aims to create more transparent, safe, and efficient procedures.” They’re not just sipping coffee and discussing tech over muffins; they’re working to establish standards and practices before blockchain becomes mainstream.

A Call for Collaboration

The doors of the association are wide open for new members, inviting fresh ideas and diverse viewpoints. María Ariza, director of BIVA, emphasized this by saying, “We want to generate a space for discussion and public policy. We want everyone to be able to present their ideas.” It’s a collaborative approach to innovation!

Global Trends in Blockchain Associations

This establishment is part of a broader trend where technology and cryptocurrency leaders globally are forming associations to facilitate adoption and collaboration with regulators. On November 27, the Association for Digital Asset Markets (ADAM) was launched by ten financial and tech firms to create a comprehensive “code of conduct” for the cryptocurrency sector.

What’s Happening in the U.S.?

In September, U.S.-based blockchain entities, including the likes of Coinbase, got together to form their own Blockchain Association focused on navigating the political realm, specifically addressing policy issues related to cryptocurrency taxation.

Mexican Regulations in the Mix

Meanwhile, in a bid to regulate the crypto landscape, the Bank of Mexico (Banxico) has mandated that all crypto exchanges and banks providing cryptocurrency services in the nation must secure a permit from the bank. This involves providing a detailed business plan that outlines their operations, intended commission fees, and how they will verify customer identities. Talk about keeping the blockchain game legal!

The Future is Bright

As the Blockchain Association of Mexico gears up to lead the charge in educating the public and setting standards, it showcases a proactive approach to integrate this technology into society. With the combined effort of industry leaders and regulatory bodies, Mexico could become a beacon of blockchain innovation!