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Failures in the SPEI of Mexico show the weakness of traditional banking in full swing of the blockchain

Last Friday, November 13th, Interbank Electronic Payment System (SPEI) users in Mexico reported a terrorist attack on Friday to access electronic banking services at the country’s major banksaccording to portal reports Down detector.

According to the reports from users on the portal who specialize in the detection of SPEI errors, the major banks like Banorte Intermittences represented in their operations as well as online banking.

Failures in the SPEI of Mexico show the weakness of traditional banking in full swing of the blockchain
Failures in the SPEI of Mexico show the weakness of traditional banking in full swing of the blockchain

In addition, according to reports on social networks, lUsers complained that the mobile applications from Citibanmex, BBVA and Santander suffered falls at the beginning of the weekend, critical day for the local economy as it corresponds to the date of labor compensation.

Apparently, most of the digital banking services appeared to be failing, which had a huge impact on banking services. BBVA Registration of login problems in 49 percent of the complaints and with the mobile app in 45 percent.

Citibanamex was the second company with the highest number of user complaints collected on the site DownDetector91 percent of the reports received relate to registration.

According to the website Merca2.0, The remaining reports for the major banks of the Latin American country on digital banking failures were as follows:

Troubled banking, booming blockchain

The severity of failures in a key era of social distancing where online trading is fundamental to the country’s economy is under review by gut Merca2.0, which indicates Purchases through these channels account for 30 percent of total sales in the catalog. ‘Good end‘According to the Mexican Association for Online Sales (AMVO).

User problems with digital banking in Mexico are nothing new. According to reports from DownDetector, In the last months of September and October there were bugs in mobile applications, the web and SPEI in the northern country.

These problems show that traditional banking continues to struggle at key economic moments. Coupled with the downsizing reports that this country’s major financial institutions are seeing now, the whole picture looks gray for the first half of the new business year.

In this sense, The foundations for a stronger adoption of Bitcoin and in particular the main micro-payments protocols like DASH in the Latin American country seem to find an ideal fertilizer that will allow them to fertilize the soil for greater penetration of the local commercial sector.

In addition, as Cointelegraph recently reported, the rationale for the increasing adoption of the decentralized financial sector “DeFI” has not stopped growing and not only has the “Total Value Blocked” TVL “in the main logs increased but the number of users that adds up every day to strengthen your finances.

Involved with blockchain technology, Decentralized systems are more resistant to service failures by servers or Internet providers due to their type of connection via nodes that are distributed in all latitudes. In this way, you can instantly and reliably increase electronic payments within seconds, without depending on a central point of failure like the traditional banking system.

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