Panama creates foundation to promote blockchain adoption

Thanks to its strategic location, the Central American country is considered ideal for commercial activity as well as the development of the economy both in the region and in Latin America. This is the main reason that led a group of companies to create the Latin American Blockchain and Fintech Initiative (LABFin).

The organization’s main objective is to promote training in the area of ​​blockchain technology and its benefits, as well as the adoption of its applications in different areas of life in the country as well as internationally.

The group recently launched in Panama is committed to making decentralized technology and its properties more accessible to the sectors involved, aimed at achieving a fair regulatory framework that does not yet exist in the country.

Charles Gonzales, CEO of LABFin, said: “The reason why the technology has not yet been adopted massively in the Latin American territory is because there is a lack of information, education and interaction between companies, traditional infrastructures and blockchain projects”.

It is impossible to ignore the potential of cryptocurrencies, especially bitcoin, as well as blockchain technology. In this regard, the group’s website shows the benefits of the associated entities, which include converting fiduciary currency into bitcoin and vice versa as well as using the asset as a means of exchange; launch tokens; use bitcoin as a store of value; “incubate new markets and applications”, among others.

M.Pino

Source: Diario Bitcoin

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