BLOCKCHAIN: THE NEW REVOLUTION FOR FINANCIAL TRANSACTIONS

Blockchain has arrived in Latin America . These distributed books, which are commonly known as "chain block" or blockchains are transforming how money and transactions are documented and recorded -in all businesses and industries-, bringing a disruptive potential for improvement, committed to change Radically the security, transparency and efficiency of the entire ecosystem of transactions.

This technology has come a long way from its original association with the criptomonedas as bitcoin. Advanced industry applications now leverage the power of hyperledgers, which are not dependent on anonymous trading and crypto-activists. In fact, they provide an authoritative private network with known identities that allow companies, suppliers and partners to maintain common records in an environment that is impossible to hack.

Blockchain represents a change in the conduct of transactions, a step that benefits both business and consumers. In the financial industry, blockchain is generating a significant improvement in the processes of interbank transactions in terms of expenses and times. While a banking institution in Latin America could expect days today for a company to the other side of the world to make the receipt confirmation and send the payment, with blockchain, the entire transaction can be completed in a matter of minutes . If a local tax authority intervenes to audit, the banker can show precisely what amounts have been paid and by which members of his organization, with full transparency in all parts of the chain.