Latin America is also joining the blockchain landscape, with the birth of the first blockchain alliance.

A blockchain alliance led by the Santiago Stock Exchange (STE), known as STE, has emerged in Latin America.

The Santiago Stock Exchange (STE), the Central Securities Depository (DCV), and Global Trade Directory (GTD) recently announced the formation of a blockchain association, which is a financial application development alliance in the blockchain sector.

According to a report by Latin American business intelligence company BNamericas on 8/27, the alliance aims to establish a business blockchain network in the future. This infrastructure is designed to connect global stock market clients through nodes, which will provide clients with the ability to use different applications on the Hyperledger platform.

Fernando Yañez, General Manager of the local Central Securities Registry, commented on the development:

Since 2017, we have been collaborating with other securities depositories around the world to apply blockchain to our industry services. We are currently working with the Central Bank of Chile on how to incorporate this technology into issuance projects, especially in financial instruments.

After the establishment of this association, the three institutions will form a technical committee responsible for designing a system within six months and consulting with alliance members in the future.

Upon completion of this initial stage, a development team will be hired to build a blockchain-based platform within 18 months, releasing a production version every six months.

Latin America has also joined the blockchain landscape. In addition, according to a report, the multinational banking giant HSBC became the first bank to complete a transaction on the European blockchain trading platform We.Trade. Continents, and even the world as a whole, are gradually integrating into this landscape. Let's look forward to future developments!

Further Reading

• The Australian Stock Exchange confirms the implementation of blockchain in 2021
• A UK football club announces a new partnership where fans can support players through blockchain

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