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They analyzed Panama’s potential as a hub for logistics and financial services

November 5, 2020

As part of the Blockchain Summit Latam Online 2020, a panel entitled “Panama as a hub for logistics and financial services” took place. Eli Faskha, VP Executive Committee of Panama Hub Digital; Alejandro Carbonell, Innovation Director at Ciudad del Saber; and Walter Álvarez, CEO of Blockfactory. The moderation was chaired by Jorge Farias, founder and CEO of Cryptobuyer.

Eli Faskha highlighted this Historically, Panama has played a role of transfer, communication, convergence. “It’s the Latin American center for a lot of things,” he noted.

On the other hand, he recalled: “Panama has already gone through a shocking event and has recovered, and the example is the Panama we have today. I’m referring to the invasion we had in 1989. The fact that Panama has recovered so much shows that it is a resilient country and that there are many opportunities. “

They analyzed Panama’s potential as a hub for logistics and financial services
They analyzed Panama’s potential as a hub for logistics and financial services

On the other hand, Walter Álvarez said: “I think there are ways to position yourself differently.” And he emphasized: “Everything that has to do with traceability, risks, safety and products is very important.”

“There are good opportunities today, although there is a lack of some stronger political decisions,” he added. He said that today not only tax benefits are important, but also technological issues.

Alejandro Carbonell stated that the digitization of traditional companies has made significant progress and that technological ventures have emerged.

Concrete actions

Eli Faskha also noted: “We want more companies to develop capacities to be leaders in the region. We focus on logistics and finance”.

For his part, Álvarez reminded that Blockfactory is part of LACChain. “Based on these nodes and technological experience, we started working on some projects like traceability.” And he said that they also do joint work with the Technological University.

Proposed Act to Regulate and Use Cryptocurrencies?

The panellists were consulted on a bill to regulate cryptocurrencies and expressed their views.

Eli Faskha made it clear that he is not an expert in the field but said the conversation is a good thing. “The law can be adapted through discussions and changes. At least they are talking about how transactions can be regulated in the normal economy, “he said.

“In my opinion, it’s good to talk, though It is important that the different actors sit together to find the appropriate measure that will benefit everyone, ”he added.

Álvarez, however, said: “There is a feeling that things other than what is said are being done or that they are copying the bad from other quarters.”

And I add: “I think you have to deregulate. Don’t regulate that much. The goal of cryptocurrencies is more freedom. “

In addition, he thought: “For investors, a law should offer attractions with incentives. The only thing the law will do now is for people to continue P2P transactions outside of the system. “

Alejandro Carbonell commented: “I think it’s positive that there are discussions on this topic. But the law is confusing. I feel like they are trying to regulate something that is global and decentralized in nature. ”

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