UN Commission: Blockchain Can Help Struggling Banks in Latin America

William Suberg

The Economic Commission for Latin America and the Caribbean (ECLAC) has stated Blockchain could help improve costs in troubled banking sectors.

In a report released at the end of April, the ECLAC, which is a regional commission of the United Nations, said the technology held particular promise in reducing so-called “de-risking” practices among local banks.

De-risking, it says, is the phenomenon witnessed across the developing world in which banks shy away from deals which would cost too much in regulatory maneuvering to fulfill.

“…This technology appears to have the potential to address the problem of de-risking on two fronts,” it said. Read more.

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