Chile’s financial regulators join the R3 block chain alliance


nnIn the wake of the riots: Chile’s financial regulator SBIF joined the R3 distributed books alliance, in fact, there have been other national regulators to join the bank-based alliance. And officials said the potential of the chain chain technology continues to show up, government agencies should be critical to look at and understand the block chain technology and use cases.n
nTranslation: Annie_Xun
Chile’s financial regulators have joined the R3 Distributed Books Union.n
SBIF (Superintendency of Banks and Financial Institutions) is one of the two regulators of the South American banking industry, which confirms joining the league and hints at knowing how companies and government agencies can use the technology in their internal processes.n
Eric Parrado Herrera, head of the agency, said:n
n”Our era is no longer allowed to rigid, short-sighted, short-term regulation.” Block chain technology represents the ‘evolutionary change’ is undoubtedly the turning point of the financial system and its users. “n
nIt is noteworthy that SBIF is not the only regulator to join the league. April Canada Quebec Financial Regulatory Agency AMF (Autorite des marches financiers) said that has participated in the exploration project.n
At that time the agency officials responded to Parrado’s comments that regulators needed to expand their knowledge base as new technologies such as block chains drive potential changes.n
“We need to build an internal knowledge base that critically looks at and truly understands different use cases,” said Lise-Estelle Brault, senior director of AMF derivatives regulation.n

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